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 Post subject: April 4th Monday Trade Results - Profit $1062.50
PostPosted: Tue Apr 05, 2016 1:20 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:
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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $1062.50 dollars or +21.25 points, Light Crude Oil CL ($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 @ $1062.50 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=155&t=2329

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=289&t=3100 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.


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


4:15 pm: [BRIEFING.COM] The major averages began the week on a lower note as the broader market pulled back from its impressive finish to the first quarter. Additional factors to today's decline included a slide in crude oil prices, hawkish remarks Boston Fed President Eric Rosengren (an FOMC voter), and the underperformance of the heavily-weighted technology (-0.5%), financial (-0.5%), and industrial (-1.0%) sectors. The Nasdaq Composite (-0.5%) finished the day behind the Dow Jones Industrial Average (-0.3%), and the S&P 500 (-0.3%).

The equity market drifted lower to begin the day as a slump in the oil patch outweighed a quiet overnight session. Meanwhile, hawkish commentary from Boston Fed President Rosengren pushed the major averages to fresh morning lows as he alluded to a rate hike taking place before the financial markets expect to see one. Furthermore, President Rosengren stated that expectations of one or zero interest rate hikes in 2016 might be "too pessimistic."

Equity indices recovered to their flat lines by the early-afternoon, but were unable to hold these levels as the heavyweight technology (-0.5%), financial (-0.5%), and industrial (-1.0%) sectors extended their losses. Additionally, crude oil spent most of the afternoon drifting towards fresh session lows. WTI crude ended its day lower by 2.8% at $35.72/bbl.

Eight sectors finished their day beneath their flat lines as industrials (-1.0%), materials (-1.0%), and consumer discretionary (-0.9%) led to the downside while health care (+1.0%) and telecom services (+0.7%) sported the only gains of the day.

In the industrial space (-1.0%), heavyweight constituents General Electric (GE 31.23, -0.70) and Danaher (DHR 93.78, -1.1.88) demonstrated relative weakness after both were downgraded from "Outperform" to "Market Perform" at Bernstein.

Meanwhile, the Dow Jones Transportation Average (-0.9%) underperformed as rail names and JetBlue (JBLU 20.41, -0.92) weighed on the index. JetBlue was initially reported to be in contention to acquire Virgin America (VA 55.11, +16.21), but Alaska Air (ALK 78.92, -3.09) won its bid for the company with its offer of $57/share in an all cash transaction.

In the influential technology space (-0.5%), Facebook (FB 112.55, -3.51) weighed on the broader sector after cautious commentary from Deutsche Bank warned against the company's first quarter earnings. Elsewhere, the high-beta chipmakers underperformed, evidenced by the 0.9% decline in the PHLX Semiconductor Index. The index slipped as Intel (INTC 32.00, -0.45) declined 1.4% in response to a downgrade at Exane BNP Paribas.

On top of the leaderboard, the health care space (+1.0%) outperformed to continue its recent rebound effort. The sector has gained 2.3% since the beginning of April, but remains down 3.8% since the beginning of 2016. The iShares Nasdaq Biotechnology ETF (IBB 270.65, +2.34) underperformed the broader sector, but trimmed its 2016 loss to 18.3%. Meanwhile, positive results from Edwards Lifesciences' (EW 105.08, +15.16) PARTNER II Trial of its SAPIEN 3 valve helped boost the broader sector.

The U.S. Dollar Index (94.57, -0.05) ended its session above its session low as the greenback fell against the euro and the yen. The euro ended unchanged against the dollar at 1.1391. Meanwhile, the dollar/yen lost 0.3%, slipping to 111.34.

The retreat in the equities was enough to cause a momentary uptick in the Treasury complex, but the yield on the 10-yr note ended its day unchanged at 1.77%.

Today's participation fell beneath the recent average as fewer than 801 million shares changed hands at the NYSE floor.

Today's economic data was limited to Factory Orders for February:

New orders for manufactured goods in February declined 1.7%, as expected, marking the third time in the last four months that they have been down.
January was the exception in that string, yet it was shown today as well that factory orders for January were up only 1.2% versus a previously reported 1.6% increase.
Excluding transportation, factory orders declined 0.8% on top of a downwardly revised 0.6% decline in January (from -0.2%) and are down 3.4% year-over-year.
The downturn in orders in February, coupled with the downward revisions for January, underscore an economy that has failed to gain any excitable momentum in the first quarter after growing at an annualized rate of just 1.4% in the fourth quarter.
The inventories-to-shipments ratio was unchanged at 1.37.

Tomorrow's economic data will include the February Trade Balance (Briefing.com consensus -$46.20 billion) and the ISM Service Index for March (Briefing.com consensus 54.0), which will be released at 8:30 ET and 10:00 ET, respectively.

Russell 2000 -2.4% YTD
Nasdaq Composite -2.3% YTD
S&P 500 +1.1% YTD
Dow Jones +1.8% YTD

3:30 pm: [BRIEFING.COM]

The dollar index rallied off of today's lows, putting downward pressure on commodities in afternoon trading
Commodities, as measured by the Bloomberg Commodity Index, are currently down about -1.0% at 77.19
Crude oil briefly spiked in the green before a steady and prolongued downtrend the rest of the day, closing notably lower in the afternoon
May WTI crude oil futures closed down $1.04 (-2.8%) at $35.72/barrel
Crude oil is down -13.8% from this year's high of $41.45/barrel seen on Mar 22, 2016
Natural gas spiked to new highs of the day around $2.07/MMBtu in early trading before entering a downtrend the rest of the day, bouncing off today's low at $1.98/MMBtu and closing near the midpoint of the initial rally
May natural gas futures closed up $0.05 (+2.6%) at $2.00/MMBtu
Natural gas has rallied about +13% off of its 1-month low of $1.77/MMBtu seen a few weeks ago
In precious metals, gold closed near its low of the day
June gold futures closed down $4.10 (-0.3%) at $1219.40/oz
Silver consolidated and moved slightly lower, closing near its low of the day
May silver futures closed $0.12 lower (-0.8%) at $14.94/oz
Base metal copper plummeted in early morning trading before entering into a modest recovery, still closing lower for the day
May copper futures closed $0.02 lower (-0.9%) at $2.14/lb

2:55 pm:

[BRIEFING.COM] At the stock market enters its final hour of trade, the major averages hover above session lows. The Nasdaq Composite trades (-0.4%) behind both the Dow Jones Industrial Average (-0.3%) and the S&P 500 (-0.3%).

In front of the pack, health care (+1.2%), telecom services (+0.4%), consumer staples (-0.4%) and financials (-0.5%) lead.

The high-beta chipmakers demonstrate relative weakness, evidenced by the 0.9% decline in the PHLX Semiconductor Index. Index component Intel (INTC 31.80, -0.65) has declined 2.0% after being downgraded to "Neutral" from "Outperform" at Exane BNP Paribas. Elsewhere, SunEdison (SUNE 0.21, -0.21) has declined 61.1% over the last two sessions . The stock tumbled after rumors that it would be seeking Chapter 11 bankruptcy protection were substantiated earlier this morning. Separately, Marvell (MRVL 9.67, -0.27) has a hearing scheduled for April 14, which will determine if the stock is delisted from the Nasdaq due to the delayed filing of its 10-K form.

WTI crude ended its day lower by 2.8% at $35.72/bbl while natural gas ended higher by 2.6% at $2.00/MMbtu.

2:25 pm:

[BRIEFING.COM] The major averages have ticked off fresh session lows as the S&P 500 (-0.4%) trades within one point of its worst level of the day.

Commodity-sensitive materials (-1.0%) trade in-line with industrials (-1.0%) and behind the consumer discretionary space (-0.9%) as the three lead the downside.

The economically-sensitive financial sector (-0.6%) underperforms today after posting a 0.8% gain on Friday. Life insurance names display relative weakness as MetLife (MET 43.78, -0.78) declines 1.8%. Dow component Goldman Sachs (GS 157.69, -2.13) is the second worst performed in the price-weighted index. Meanwhile, PayPal (PYPL 38.50, -0.90) trims its 2016 gain to 9.6%, compared to the 5.4% decline in the broader sector. Real estate investment trust names lead the sector as HCP (HCP 32.95, +0.34) gains 1.1%.

On the commodities front, WTI crude trades at $35.62/bbl (-3.2%) ahead of its pit session close at 14:30 ET. Elsewhere, gold ended its pit session lower by 0.3% at $1,219.40/ozt.

1:55 pm:

[BRIEFING.COM] The stock market has traded largely sideways in recent action as the S&P 500 (-0.2%) trades in-line with the Nasdaq Composite (-0.2%).

On the bottom of the leaderboard consumer discretionary (-0.8%) and industrials (-0.8%) trade neck-and-neck as they follow materials (-0.7%).

In the industrial space (-0.8%), large cap constituent General Electric (GE 31.20, -0.72) has declined 2.3% after receiving a downgrade to "Market Perform" from "Outperform" at Bernstein. The downgrade comes after the stock has rallied 12.4% off the February 11 intraday low in the S&P 500 (1810.10). On a year to date basis General Electric has gained 2.1%, compared to the 1.2% gain in the benchmark index. Meanwhile, Delta Airlines (DAL 47.53+ 0.53) outperforms among the major air carriers after disclosing that its March quarter operating margin will improve to 18.0-19.0%.

The U.S. Dollar Index (94.46, -0.16) hovers above session lows as the greenback loses more ground to the the yen and the euro. The euro/dollar pair trades higher by 0.1% at 1.1401 while the dollar/yen has lost 0.5% at 111.19.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have ticked lower since our last update after stocks failed to break into positive territory following a brief rally off this morning's lows.

A look inside the Dow Jones Industrial Average shows that Nike (NKE 59.71, -1.88), General Electric (GE 31.27, -0.66), and Intel (INTC 32.09, -0.36) are underperforming. GE and Intel are among the Dow's leading decliners following downgrades the morning, with GE being downgraded to Hold from Buy at Bernstein and Intel being downgraded to Neutral at Exane BNP Paribas.

Conversely, Pfizer (PFE 30.69, +0.65) is the best-performing Dow component amid notable strength in the entire health care space today. The sector is up more than 1.3% despite near broad market weakness seen across all other industries.

Today's small pullback trims April's gains to 0.45%

1:10 pm:

[BRIEFING.COM] The stock market trades on a flat note at midday as the major averages consolidate following their strong finish to the first quarter. Meanwhile, the outperformance of the health care space (+1.3%), vacillation in oil, and some hawkish commentary from Boston Fed President and FOMC voter Eric Rosengren have affected today's trade. At this juncture, the Dow Jones Industrial Average (-0.1%) trades in-line with the Nasdaq Composite (-0.1%) and the S&P 500 (-0.1%).

Equity indices wobbled at the open as a downturn in crude oil eclipsed an otherwise quiet overseas affair. To that point, the energy component fell to the $36.61/bbl price level shortly before the open, but managed to rally during the first half hour of trade. This rebound would prove to be short-lived as oil returned to its session low by the late morning. Currently, WTI crude trades lower by 1.5% at $36.23/bbl.

Separately, hawkish commentary courtesy of Boston Fed President Rosengren moved the averages to their worst levels of the day. President Rosengren startled investors when he stated his belief that a rate hike may be warranted sooner than is implied by "financial market futures." At this juncture, the fed funds futures market sees the first greater than 50.0% likelihood of a rate hike coming during the Fed's September meeting (51.0%).

The major indices have picked up off their lows as leadership from the heavily-weighted health care space (+1.3%) helps support the broader market. Meanwhile, technology (-0.3%) and financials (-0.3%) have recovered off their lows. Other cyclical sectors like consumer discretionary (-0.7%) and industrials (-0.6%) round out the board.

In the health care space (+1.3%), broad based strength from drug companies, biotechnology, and medical equipment names has buttressed the sector's rebound from larger yearly losses. In the medical equipment sub-group, Edwards Lifesciences (EW 107.04, +17.12) has spiked 19.0% after the company reported positive results regarding the effectiveness of its PARTNER II Trial of its SAPIEN 3 valve. Separately, biotechnology outperforms, evidenced by the 2.2% gain in the iShares Nasdaq Biotechnology ETF (IBB 274.18, +5.87).

Heavily-weighted Apple (AAPL 111.85, +1.86) demonstrates relative strength in the influential technology group (-0.3%). The stock has gained 1.7% following a target price increase at Credit Suisse to $150 from $140. Additionally, Apple was added to the firm's U.S. focus list. Conversely, fellow large cap Facebook (FB 112.73, -3.33) underperforms after a cautious analyst note from Deutsche Bank warned of light first quarter results for the company.

Oilfield service names show some of the largest loss in the energy sector (-0.1%) as Halliburton (HAL 34.51, -0.58) and Baker Hughes (BHI 41.19, -1.76) slip after headlines point to mounting antitrust concerns regarding their proposed merger. Conversely, Schlumberger (SLB 72.33, +0.21) has gained 0.3% after coverage was resumed at Goldman Sachs with a rating of "Buy."

The Dow Jones Transportation Average (-0.4%) demonstrates relative weakness, but airline names outperform. The group is benefiting from M&A news that Virgin America (VA 55.25, +16.35) has agreed to be acquired by Alaska Air (ALK 77.50, -4.51) for $57/share in an all cash transaction.

In the consumer discretionary space (-0.7%), large cap constituent and Dow component Nike (NKE 59.69, -1.89) underperforms. Elsewhere, Viacom (VIAB 39.63, -1.53) has slipped 3.7% after its BET Network division announced that it will acquire Soul Train for an undisclosed amount.

The U.S. Dollar Index (94.50, -0.12) slipped from its overnight high as the greenback pared gains against the euro and the yen. The euro has gained 0.1% against the dollar to trade at 1.1396. Meanwhile, the dollar/yen pair has lost 0.5% to trade at 111.16.

The Treasury complex has traded flat for the bulk of today's trade as the yield on the 10-yr note is unchanged at 1.77%.

Today's economic data was limited to Factory Orders for February:

New orders for manufactured goods in February declined 1.7%, as expected, marking the third time in the last four months that they have been down.
January was the exception in that string, yet it was shown today as well that factory orders for January were up only 1.2% versus a previously reported 1.6% increase.
Excluding transportation, factory orders declined 0.8% on top of a downwardly revised 0.6% decline in January (from -0.2%) and are down 3.4% year-over-year.
The downturn in orders in February, coupled with the downward revisions for January, underscore an economy that has failed to gain any excitable momentum in the first quarter after growing at an annualized rate of just 1.4% in the fourth quarter.
To that end, shipments of nondefense capital goods excluding aircraft -- a metric used in GDP computations -- declined 1.7% in February after dropping 1.4% in January.
Orders for both durable goods and nondurable goods were down in February, declining 3.0% and 0.4%, respectively. New orders for nondefense capital goods excluding aircraft -- a proxy for business spending -- declined 2.5% month-over-month and are down 1.1% year-over-year.
Total inventories for all manufacturing industries declined 0.4%. That is the eighth straight month that inventories have declined. The latter point notwithstanding, the inventories-to-shipments ratio was unchanged at 1.37.

12:25 pm:

[BRIEFING.COM] The major averages have continued to rise off their lows as the Dow Jones Industrial Average (UNCH) trades ahead of the S&P 500 (-0.1%) and the Nasdaq Composite (-0.1%).

On the bottom of the leaderboard, heavily-weighted financials (-0.2%) and technology (-0.2%) have trimmed their losses as they lead materials (-0.4%) and industrials (-0.4%).

The energy space (+0.3%) has shown resilience today, as it floats above its flat line despite a downturn in crude oil. At this juncture, WTI crude trades lower by 0.8% at $36.48/bbl. In the group, refining names outperform with Marathon Petroleum (MPC 37.00, +0.61) gaining 1.7%. Conversely, Halliburton (HAL 34.70, -0.38) and Baker Hughes (BHI 41.62, -1.32) underperform as antitrust concerns weigh on their proposed merger.

The U.S. Dollar Index (94.54, -0.08) has slipped lower in recent trade as the euro/dollar pair trades higher by 0.1% (1.1394) while the dollar has lost 0.5% against the yen to trade at 111.20.

12:00 pm:

[BRIEFING.COM] The S&P 500 (-0.3%) has floated sideways since the last update, trading three points above its session low.

Seven sectors continue to trade in the red with losses between 0.4% (consumer staples) and 0.7% (consumer discretionary). On the flipside, health care has extended its gain to 1.0%.

In the consumer discretionary space (-0.7%), automotive names General Motors (GM 29.90, -0.57) and Ford (F 12.82, -0.27) have extended their losing streaks after Friday's release of March auto sales numbers. Separately, Viacom (VIAB 39.81, -1.36) underperforms among media names after its BET Network division announced that it will acquire Soul Train for an undisclosed amount. Additionally, the company was downgraded at MoffettNathanson to "Neutral" from "Buy." Meanwhile, Dow component Nike (NKE 60.05, -1.54) is the worst performer in the price-weighted index.

11:35 am:

[BRIEFING.COM] The major averages hover above session lows as the S&P 500 (-0.2%) trades in-line with the Dow Jones Industrial Average (-0.2%).

In the back of the pack, consumer discretionary (-0.9%) has extended its loss as it trails industrials (-0.6%), technology (-0.5%), and utilities (-0.5%).

In the technology space (-0.6%), large cap Facebook (FB 112.01, -4.04) has slipped 3.5% after Deutsche Bank issued a cautious note on the company's first quarter earnings report. Meanwhile, networking giant Cisco Systems (CSCO 28.09, -0.33) has fallen 1.1%. Conversely, Dow component Apple (AAPL 111.28, +1.29) has gained 1.1%.

On the commodities front, WTI crude trades lower by 0.5% ($36.54/bbl) after slipping from the $37.14/bbl level. Elsewhere, gold trades down 0.3% ($1,219.50/ozt).

11:00 am:

[BRIEFING.COM] The stock market has slipped lower since our last update as the S&P 500 (-0.3%) trades ahead of the Nasdaq Composite (-0.4%)

In front of the pack, health care (+0.8%) leads energy (+0.6%) while the telecom services sector (+0.2%) follows.

In the heavyweight health care space (+0.8%), Edwards Lifesciences (EW 105.99, +16.07) has gained 17.9% after reporting that its SAPIEN 3 heart valve produced superior results to surgery in its PARTNER II Trial. Furthermore, the company has received several price target increases after releasing the results. Meanwhile, Dow component Pfizer (PFE 30.58, +0.54) tops the price-weighted index. The broader health care space remains down 3.9% on a year to date basis, leading only financials (year-to-date -4.9%) over that period. Over the last two trading days, the sector has gained 2.2% compared to a 0.6% gain in the benchmark index.

The U.S. Dollar Index (94.60, -0.02) has trimmed its loss in recent action as the euro slips against the greenback. The euro/dollar pair trades at 1.1381 after slipping from the 1.1405 level.

On the central bank front, Boston Fed President Rosengren (an FOMC voter) stated recently that he believes a rate hike is likely appropriate before the market expects. Additionally, Presdient Rosengren believes that market expectation of one or zero rate hikes in 2016 is 'too pessimistic."

10:30 am: [BRIEFING.COM]

The dollar index is trending downwards, giving commodities a boost to begin the week
Commodities, as measured by the Bloomberg Commodity Index, are up +0.3% at 78.17
Crude oil consolidated below the previous week's close before bouncing slightly in the green during morning trade
Last week, May crude oil declined 7%, or $2.73/barrel, ending Friday's session at $36.76/barrel from $39.49/barrel
Today, May crude oil futures are currently up +1.0% at $37.11/barrel
Natural gas spikes notably higher in morning trade
May natural gas futures are currently up +5.6% at $2.05/MMBtu
Natural gas is up +15.8% from its 1-month low of $1.77/MMBtu
In precious metals, gold trends downward while consolidating before dropping further
June gold futures are down -0.3% at $1219.90/oz
Silver exhibits notable volatility, oscillating wildly around last week's close but currently in the green
May silver futures are currently up +0.2% at $15.08/oz
Base metal copper remains near parity with the previous week's close
May copper futures are currently flat at $2.16/lb

10:00 am:

[BRIEFING.COM] The Nasdaq Composite (-0.1%) trades in-line with the S&P 500 (-0.1%) and the Dow Jones Industrial Average (-0.1%). Meanwhile, the benchmark index hovers two points above its session low.

Commodity-sensitive energy (+0.6%) has overtaken health care (+0.6%) on the top of the leaderboard while countercyclical utilities (-0.4%) and consumer staples (-0.3%) round out the board.

Just released the Factory Orders report for February, which showed a loss of 1.7%, which was in-line with the Briefing.com consensus. The January reading was revised to 1.2%. (from 1.6%).

9:45 am:

[BRIEFING.COM] The stock market opened the day on a modestly lower note as the S&P 500 (-0.1%) trades in-line with the Nasdaq Composite (-0.1%).

Seven sectors opened beneath their flat lines as industrials (-0.4%), materials (-0.3%), and financials (-0.3%) lead the downside. Conversely, heavily-weighted health care (+0.6%) and energy (+0.4%) sport the largest gains.

In the health care space (+0.6%), biotechnology demonstrates relative strength as the iShares Nasdaq Biotechnology ETF (IBB 270.30, +1.99) gains 0.7%.

On the commodities front, WTI crude trades higher by 0.5% at $36.96/bbl while gold has lost 0.3% ($1,220.50/ozt).

Factory Orders for February (Briefing.com consensus -1.7%) will be released at 10:00 ET.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +3.50.

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

Futures moved higher this morning as quiet overseas action and a fleeting rebound in oil helped support the broader market. To be fair though, this positive bias could be seen as an extension of last week's strong finish. Furthermore, there have been some M&A headlines offering additional support. However, a tumble back into the red for oil has pressured futures from their overnight highs. At this juncture, WTI crude trades lower by 0.7% at $36.54/bbl.

Separately, the greenback pared early gains against the euro and the yen. Currently, the dollar is down 0.3% against the yen, trading at 111.40, while the euro/dollar pair trades higher by 0.1% at 1.1396.

In specific company news, Virgin America (VA 54.37, +15.47) has spiked 39.8% after agreeing to be acquired by Alaska Air (ALK 77.90, -4.11) for $57/share in an all cash transaction. Meanwhile, Acadia Pharmaceuticals (ACAD 29.40, +0.74) has gained 2.6% amid reports indicating that Baker Brothers Advisors raised its active stake in the company to 21.8%.

For its part, the Treasury complex continues to trade on a flat note with the yield on the 10-yr note unchanged at 1.77%.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +8.10.

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

Equity markets across Asia ended the Monday session on a subdued note while indices in China and Hong Kong were closed for holidays. Generally speaking, the trading day was free of noteworthy headlines, but Japan's Prime Minister Shinzo Abe is expected to unveil a budget for fiscal year 2016, which will reportedly call for frontloading of spending.

In economic data:
Australia's February Retail Sales 0.0% month-over-month (expected 0.4%; previous 0.3%), February Building Approvals +3.1% month-over-month (expected 2.0%; last -6.6%), ANZ Job Advertisements +0.2% month-over-month (last -1.2%), and March MI Inflation Gauge 0.0% month-over-month (last -0.2%)
Japan's Monetary Base +28.5% year-over-year (consensus 28.7%; last 29.0%)
India's March Nikkei Markit Manufacturing PMI 52.4 (consensus 51.5; previous 51.1)

---Equity Markets---

Japan's Nikkei ticked down 0.3% as relative weakness in sectors like technology (-0.7%) and consumer discretionary (-0.7%) outweighed gains in most other groups. J Front Retailing, Alps Electric, Denso, Toyota Motor, Sumitomo Chemical, TDK, and Fast Retailing lost between 1.9% and 4.4%. On the upside, Nippon Suisan Kaisha gained 6.1% while Sharp, Sony, and Pioneer posted gains between 3.4% and 4.0%.
Hong Kong's Hang Seng was closed for Ching Ming Festival
China's Shanghai Composite was closed for Tomb Sweeping Day

Major European indices trade modestly higher as Germany's DAX (+0.6%) leads the upside. The region-wide advance may have been partially fueled by comments from European Central Bank member Peter Praet, who said that price stability is under threat from too low inflation and that the ECB will act forcefully to ensure price stability. The euro has retreated modestly, trading lower by 0.1% against the dollar at 1.1395.

Economic data was limited:
Eurozone February PPI -0.7% month-over-month (expected -0.6%; last -1.1%); -4.2% year-over-year (consensus -4.0%; last -3.0%). February Unemployment Rate ticked down to 10.3% from 10.4% (expected 10.3%) while April Sentix Investor Confidence ticked up to 5.7 from 5.5 (consensus 6.4)
UK's March Construction PMI 54.2 (expected 54.0; last 54.2)
Spain's Unemployment Change -58,200 (expected 21,300; last 2,200)

---Equity Markets---

UK's FTSE is higher by 0.5% with Rio Tinto in the lead. The stock has spiked 2.3% while other miners trade mostly lower. Elsewhere, Royal Dutch Shell, Unilever, Shire, AstraZeneca, and Associated British Foods show gains between 1.5% and 1.8%.
France's CAC has climbed 0.5%. Sanofi leads with a 4.4% gain while consumer names like Pernod Ricard, Essilor International, Carrefour, Louis Vuitton, and Kering are up between 1.4% and 2.5%. On the downside, Bouygues has plunged 14.9% and Orange trades down 4.6% after a failed merger attempt.
Germany's DAX trades up 0.6% amid gains in all but three components. Countercyclical names lead with RWE, Merck, Fresenius, Bayer, and E.On up between 2.1% and 3.7%. Exporters BMW, Daimler, and Volkswagen show gains of no more than 0.6% while Deutsche Bank is the weakest performer, down 0.3%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +11.60.

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

On the corporate front, General Electric (GE 31.68, -0.25) trades lower by 0.8% after receiving a downgrade at Bernstein from "Buy" to "Hold." Separately, Tesla Motors (TSLA 247.00, +9.41) has gained 4.0% in pre-market trading after announcing that its pre-orders for its latest Model 3 vehicle have risen to 276,000.

The U.S. Dollar Index (94.58, -0.04) has dipped beneath its flat line after surrendering an overnight gain. Currently, the euro trades flat against the dollar at 1.1387. Meanwhile, the dollar/yen pair trades lower by 0.1% (111.57) after falling from the 111.74 level.

The slide in the greenback has helped dollar-denominated commodities as natural gas and oil extend their gains. On that note, WTI crude trades higher by 0.7% at $37.05/bbl while natural gas has gained 2.7% ($2.01/MMbtu).

8:02 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +13.90.

U.S. equity futures trade higher with the S&P 500 futures floating five points above fair value.

Overnight, futures moved higher as WTI crude ticked off its session low. Currently, WTI crude trades higher by 0.3% at $36.91/bbl after trading as low as $36.21/bbl. Meanwhile, news on the M&A front has helped boost investor sentiment as the broader market looks to extend last week's strong finish.

The Treasury complex trades on a flat note with the yield on the 10-yr note unchanged at 1.77%.

On the economic front, data will be limited to the 10:00 ET release of Factory Orders for February (Briefing.com consensus -1.7%).

In U.S. corporate news of note:

Virgin America (VA 54.20, +15.30): +39.3% after announcing that it would be acquired by Alaska Air Group (ALK 80.74, -1.27) for $57.00/share in cash
Smith & Wesson (SWHC 27.01, -0.75): -2.7% following a downgrade at Cowen to "Market Perform" from "Outperform"
Express Scripts (ESRX 69.99, +0.88): +1.3% after receiving an upgrade at Cowen to "Outperform" from "Market Perform"
J.M. Smucker (SJM 130.85, -1.67): -1.3% following a downgrade to "Sell" from "Neutral" at Goldman Sachs

Reviewing overnight developments:

Japan's Nikkei ended the trading day lower by 0.3% while indices in China and Hong Kong were closed for holidays.
In economic data:
Australia's February Retail Sales 0.0% month-over-month (expected 0.4%; previous 0.3%), February Building Approvals +3.1% month-over-month (expected 2.0%; last -6.6%), ANZ Job Advertisements +0.2% month-over-month (last -1.2%), and March MI Inflation Gauge 0.0% month-over-month (last -0.2%)
Japan's Monetary Base +28.5% year-over-year (consensus 28.7%; last 29.0%)
India's March Nikkei Markit Manufacturing PMI 52.4 (consensus 51.5; previous 51.1)
In news:
Japan's Prime Minister Shinzo Abe is expected to unveil a budget for fiscal year 2016, which will reportedly call for frontloading of spending.

European indices trade higher with France's CAC +1.1%, Germany's DAX +1.1%, and U.K.'s FTSE is higher by 0.8%
Economic data was limited:
Eurozone February PPI -0.7% month-over-month (expected -0.6%; last -1.1%); -4.2% year-over-year (consensus -4.0%; last -3.0%). February Unemployment Rate ticked down to 10.3% from 10.4% (expected 10.3%) while April Sentix Investor Confidence ticked up to 5.7 from 5.5 (consensus 6.4)
UK's March Construction PMI 54.2 (expected 54.0; last 54.2)
Spain's Unemployment Change -58,200 (expected 21,300; last 2,200)
In news:
European Central Bank member Peter Praet, who said that price stability is under threat from too low inflation and that the ECB will act forcefully to ensure price stability.
The euro has retreated modestly, trading lower by 0.1% against the dollar at 1.1378

5:54 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +19.40.

5:53 am: [BRIEFING.COM] Nikkei...Holiday......... Hang Seng...16123...-40.90...-0.30%.

5:53 am: [BRIEFING.COM] FTSE...6175.78...+29.70...+0.50%. DAX...9860.85...+66.20...+0.70%.

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

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

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


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