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 Post subject: May 6th Friday Trade Results - Profit $6750.00
PostPosted: Fri May 06, 2016 6:23 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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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 @ $6750.00 dollars or +135.00 points, Light Crude Oil CL ($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 @ $6750.00 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=156&t=2355

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=291&t=3143 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.

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


4:10 pm: [BRIEFING.COM] The stock market ended a downbeat week on a higher note as investors digested a below-consensus reading of the Employment Situation Report. The S&P 500 gained 0.3%, trimming its weekly loss to 0.4%. Additional factors that impacted today's trade included a rebound in oil, an upswing in the dollar, and leadership from the heavily-weighted industrial (+0.7%), technology (+0.7%), and consumer discretionary (+0.7%) sectors. The Dow Jones Industrial Average (+0.5%) finished ahead of the Nasdaq Composite (+0.4%) and the benchmark index (+0.3%).

Today's session began on a lower note as investors digested the newly released Employment Situation Report for April. The headline nonfarm payrolls reading (160K, Briefing.com consensus 207K) came in below consensus while average hourly earnings ticked higher by 0.3% (Briefing.com consensus +0.3%). The report painted a conflicting picture of employment and simultaneously added to the recent string of weaker-than-expected economic data.

Furthermore, the employment data clouded investors' perception of the path of the feds funds rate. On one hand, the report showed softening in the labor market, and on the other, the report bumped the year-over-year increase in average hourly earnings to 2.5%. The fed funds futures market dropped the probability of a rate hike at the June meeting down to 6.0% before bidding it back to the previous day's probability of 13.1% by the end of the session.

The major averages ticked off their session lows in the late morning as a rebound in oil helped rally the broader market. For its part, WTI crude ended its day higher by 0.6% at $44.59/bbl. Equities extended their rally through the afternoon as heavily-weighted industrials (+0.7%), technology (+0.7%), and consumer discretionary (+0.7%) climbed the leaderboard.

By the end of the session, seven sectors were above their flat lines as materials (+0.9%), industrials (+0.7%), technology (+0.7%), and consumer discretionary (+0.7%) led. On the flipside, utilities (-0.7%), health care (-0.6%), and energy (-0.2%) rounded out the leaderboard.

The industrial sector (+0.7%) demonstrated relative strength as the Dow Jones Transportation Averages (+0.9%) trimmed its weekly decline to 1.7%. In the group, logistics companies outperformed with Expeditors International (EXPD 48.40, +0.93) and C.H. Robinson (CHRW 72.82, +1.97) gaining 2.0% and 2.8%, respectively.

In the technology sector (+0.7%), Cognizant Technology (CTSH 60.55, +2.96) gained 5.1% reporting above-consensus bottom-line results for the first quarter. Elsewhere, large cap names Facebook (FB 119.49, +1.68) and Alphabet (GOOG 711.12) gained 1.4% apiece while Apple (AAPL 92.72, -0.52) continued to see pressure. The name declined 1.1% on a weekly basis.

The heavyweight consumer discretionary sector (+0.7%) outperformed as Amazon (AMZN 673.95, +14.86) erased an early loss to finish its day higher by 2.3%. The broader sector ended its week with a gain of 0.1%, trailing only utilities (-0.7%; week-to-date +0.8%) and consumer staples (+0.5%; week-to-date +1.7%) over that period.

On the flipside, health care (-0.6%) underperformed throughout the day as biotechnology weighed. Additionally, generic drug names underperformed after Endo International (ENDP 16.17, -10.42) lowered its full-year guidance below consensus.

The U.S. Dollar Index (93.82, +0.04) rebounded throughout the day as the greenback made up ground against the euro and the yen. The euro/dollar pair finished flat at 1.1405 while the dollar lost 0.2% against the yen (107.10).

The Treasury complex ended its day on a lower note with the yield on the 10-yr note dropping three basis points to 1.78%. This compares to last Friday's settlement at 1.83%.

Today's participation was above average as more than xxx million shares changed hands on the NYSE floor.

Today's data included the Employment Situation Report for April:

Nonfarm payrolls increased by 160,000 (Briefing.com consensus 207,000) versus the prior 12-month average of 232,000 and the prior 3-month average of 200,000
March nonfarm payrolls revised to 208,000 from 215,000
February nonfarm payrolls revised to 233,000 from 245,000
Private sector payrolls increased by 171,000 (Briefing.com consensus 191,000)
March private sector payrolls revised to 184,000 from 195,000
February private sector payrolls revised to 222,000 from 236,000
Unemployment rate was 5.0% (Briefing.com consensus 5.0%) versus 5.0% in March
The U6 unemployment rate, which accounts for the total unemployed plus persons marginally attached to the labor force and the underemployed, was 9.7% versus 9.8% in March
Persons unemployed for 27 weeks or more accounted for 25.7% of the unemployed versus 27.6% in March
April average hourly earnings were up 0.3% (Briefing.com consensus 0.3%) after being up 0.2% in March
Over the last 12 months, average hourly earnings have risen 2.5% versus 2.3% in March
Aggregate earnings were up a robust 0.8%
The average workweek was 34.5 hours (Briefing.com consensus 34.5) versus 34.4 hours in March
March manufacturing workweek was unchanged at 40.7 hours Factory overtime was unchanged at 3.3 hours
The labor force participation rate was 62.8% versus 63.0% in March
Total outstanding consumer credit increased by $29.6 billion in March after increasing a downwardly revised $14.2 billion (from $17.3 billion) in February. The Briefing.com consensus estimate for March was $18.0 billion.
The growth in March was powered by an $18.6 billion increase in nonrevolving credit. Revolving credit increased by $11.1 billion.
In the preceding 12-month period leading up to March, consumer credit had risen by an average of $18 billion.
In March, consumer credit increased at a seasonally adjusted annual rate of 6.5%.

There is no economic data of note scheduled for release on Monday. However, China's Trade Balance Report for April will be released at 10:00 PM ET on May 7.

Week in Review: Two in a Row

The stock marketregistered its second consecutive weekly retreat, slipping back to levels fromearly April. The S&P 500 surrendered 0.4% for the week, trimming its 2016gain to 0.7%. The Nasdaq Composite underperformed, falling 0.8% to extend itsyear-to-date decline to 5.4%.

The trading week was highlighted by the release of the lastheavy batch of first-quarter earnings and the Employment Situation report forApril.

With regards to earnings, more than 85.0% of S&P 500components had delivered their results through the end of the week. Overall,blended earnings were down 7.1% with most sectors registering declines whileconsumer discretionary (+19.1%), telecom services (+16.6%), and health care(+7.2%) saw blended earnings growth.

As for the April Employment Situation Report, it missed headlineexpectations (160,000; Briefing.com consensus 207,000), but average hourlyearnings increased an in-line 0.3%, which prevented the Dollar Index from swooning.The index ended the week higher by 0.9% after marking a fresh 2016 low on Tuesday.

The release of the April Employment Situation report briefly reducedthe chance of a rate hike in June to 6.0% from 13.1%, as ascertained by the fed funds futures market. However, the fed fundsfutures market was once again pricing in a 13.1% chance of a rate hike in June by the end of Friday's session. The fed funds futures market is still pricing in a 50.0%+ chance of a rate hike taking placeat the policy meeting in December.

3:30 pm: [BRIEFING.COM]

The dollar index stages an afternoon rally to the 93.91 level, up +0.2% to end pit trading
The dollar index is up +1.3% for the week
Commodities, as measured by the Bloomberg Commodity Index, are up +0.8% at 83.39
The Bloomberg Commodity Index is down -1.6% for the week
Crude oil declines and consolidates near the midpoint of its downtrend after a brief morning rally
June crude oil futures rose $0.25 (+0.6%) to $44.59/barrel
Firefighters continue to battle the massive wildfire in Alberta, Canada, which has spread
The fire started on Sunday, thousands more have fled hundreds of miles away since then as a result
Fire affecting oil production in Western Canada's oil sands, over 500,000 barrels of oil production/day, to as much as 1 mln barrels/day, have been cut
Suncor Energy (SU) and Royal Dutch Shell (RDS.A) are 2 companies that have cut production in the region
Fort McMurray is in the heart of Alberta's oil sands
Alberta oil sands has the third largest oil reserves in the world, after of Venezuela and Saudi Arabia
Crude oil futures are down -0.4% for the week
Natural gas trades sideways in afternoon pit trading, seeing a modest spike near the end of pit trading
June natural gas closed $0.02 higher (+1.0%) at $2.10/MMBtu
Natural gas futures are up +2.9% for the week
In precious metals, gold reverses off midday highs around $1297.50/oz and trends lower, closing near the midpoint of its initial rally, ending up on the day
June gold ended today's session up $21.90 (+1.7%) to $1293.60/oz
Gold futures are down -0.2% for the week
Silver sees a move similar to gold, reversing off its midday highs around $17.60/oz before trending lower
July silver closed today's session $0.20 higher (+1.2%) at $17.53/oz
Silver futures are down -1.0% for the week
Base metal copper finishes pit trading unchanged
June copper closed flat at $2.15/lb
Copper futures are down -5.2% for the week

3:00 pm:

[BRIEFING.COM] The major averages float in the neighborhood of their session highs as the Dow Jones Industrial Average (+0.4%) leads the S&P 500 (+0.3%) and the Nasdaq Composite (+0.3%). The three indices have trimmed their weekly losses to between 0.3% and 1.0%.

Eight sectors trade in positive territory with industrials (+0.9%) and materials (+0.7%) leading the advance. The remaining gainers show upticks between 0.2% (energy) and 0.5% (telecom services).

Just released, the Consumer Credit report for March was just released by the Federal Reserve and it showed an increase of $29.67 billion while the Briefing.com consensus expected growth of $18.00 billion. The prior month's credit growth was revised lower to $14.14 billion from $17.30 billion.

WTI crude ended its day higher by 0.6% at $44.59/bbl. However, the energy component broke its 4-week winning streak, declining 3.0% since last Friday's settlement. Meanwhile, natural gas ended its day higher by 1.0% ($2.10/MMbtu).

2:30 pm:

[BRIEFING.COM] The major indices have rallied to fresh session highs as the Dow Jones Industrial Average (+0.4%) leads the S&P 500 (+0.3%).

In front of the pack, commodity-sensitive materials (+0.9%) lead technology (+0.6%), industrials (+0.6%), and consumer discretionary (+0.6%). Conversely, utilities (-0.8%) and health care (-0.6%) sport the only losses of the day.

In the consumer discretionary space (+0.5%), Amazon (AMZN 670.38, +11.29) erased a 0.5% loss to trade higher by 1.7%. Meanwhile, fellow F.A.N.G. name Netflix (NFLX 90.83, +1.46) has gained 1.6%, erasing a weekly loss to trade higher by 0.9%. This compares to a loss of 0.1% in the broader sector over that time. News Corp. (NWSA 12.67, +0.50) has gained 4.2% after beating bottom-line estimate for the quarter. Separately, SPDR S&P Retail ETF (XRT 43.00, +0.09) has gained 0.2% as it rebounds from a 2.7% weekly loss.

On the commodities front, WTI crude trades higher by 0.7% ($44.64/bbl) ahead of its pit session close at 14:30 ET.

1:55 pm:

[BRIEFING.COM] The major averages have pulled back from their session highs as the Nasdaq Composite (-0.1%) trades behind the S&P 500 (UNCH).

Two sectors trade beneath their flat lines with utilities (-1.0%) and health care (-1.0%) underperforming. Conversely, materials (+0.7%) and industrials (+0.4%) demonstrate relative strength.

In the technology space (+0.2%), Cognizant Tech (CTSH 60.19, +2.60) has gained 4.5% after beating bottom-line estimates for the quarter and lowering its earnings guidance for the second quarter. However, the company maintained its full-year earnings guidance of $3.32-3.44 per share. Elsewhere, Activision Blizzard (ATVI 37.42, +2.51) has gained 7.2% after beating estimates for the quarter and raising its guidance for full-year 2016. Separately, high-beta chipmakers demonstrate relative weakness, evidenced by the 0.5% decline in the PHLX Semiconductor Index. The broader technology sector shows a loss of 0.4% over the last week, compared to a loss of 0.7% in the benchmark index over that period.

On the commodities front, gold ended its day higher by 1.7% at $1,293.60/ozt. This represents a gain of 2.2% since last Friday's settlement ($1,266.10/ozt).

1:35 pm:

[BRIEFING.COM] The major U.S. indices are grinding higher in afternoon trading, as stocks inch north towards session highs.

A look inside the Dow Jones Industrial Average shows that IBM (IBM 146.99, +1.92), American Express (AXP 64.51, +0.59), and Procter & Gamble (PG 82.02, +0.72) are outperforming. IBM is the Dow's top gainer as shares extend gains from yesterday's strong session, climbing into positive territory for the week.

Conversely, Merck & Co (MRK 53.30, -0.79) is the worst-performing Dow component as health care lags following a number of disappointing earnings reports from names in the sector, most notably Endo Intl (ENDP 15.75, -10.84).

At current levels, the DJIA is poised to close the week lower by 0.5%, trimming its YTD gains to 1.45%

1:05 pm:

[BRIEFING.COM] The stock market trades on a lower note at midday as the major averages pull back following below-consensus readings of the April Employment Situation Report. Today's trade has also featured an uptick in oil and the underperformance of the heavily-weighted health care (-1.1%) space. The Nasdaq Composite (-0.4%) trades behind both the S&P 500 (-0.2%) and the Dow Jones Industrial Average (UNCH).

The stock market opened on a lower note as all ten sectors began their day under their flat lines following the release of the Employment Situation Report for April. The report disappointed investors on its headline results as both nonfarm payrolls (160K, Briefing.com consensus 207K) and nonfarm private payrolls (171,000; Briefing.com consensus 184,000) missed their estimates.

On the other hand, average hourly earnings increased 0.3% in April (Briefing.com consensus +0.3%) while aggregate earnings for that period increased by 0.8%. The combination provides some leeway to support a potential rate increase at the Fed's June meeting. However, the fed funds futures market currently estimates the probability of a rate hike at that meeting at 6.0%, down from yesterday's 13.1% estimate.

The major averages have continued their choppy trade as they consolidate from their recent run off the February 11 intra-day low in the S&P 500. Six sectors trade beneath their flat lines as countercyclical utilities (-1.4%) and health care (-1.1%) lead the downside. The remaining decliners sport losses between 0.1% (technology) and 0.2% (financials). Conversely, materials (+0.6%), telecom services (+0.2%) and industrials (+0.2%) outperform.

Biotechnology has contributed to persistent weakness in the health care sector (-1.1%). The iShares Nasdaq Biotechnology ETF (IBB 253.68, -5.44) has slumped 2.1%, extending its weekly decline to 5.3%. Meanwhile, generic drug makers trade lower in sympathy with Endo International (ENDP 16.03, -10.56). The company beat bottom-line estimates for the quarter, but cut its full-year earnings estimates down to $4.50-4.80 per share from $5.85-6.20 per share.

In the consumer discretionary space (-0.2%), retail stocks continue to underperform after yesterday's disappointing readings of April same store sales. The SPDR S&P Retail ETF (XRT 42.59, -0.32) has slipped 0.8%, extending its week-to-date loss to 3.6%. This compares to a loss of 0.6% in the broader consumer discretionary sector. Elsewhere, Time Warner (TWX 74.37, -1.26) trades lower by 1.7% after gaining 2.7% in yesterday's post-earnings rally.

The commodity-sensitive energy space (+0.1%) trades narrowly above its flat line as crude oil rebounds 1.2% to $44.85/bbl. In the space, independent oil and gas names trade on a mixed note with Anadarko Petroleum (APC 47.15, +1.105) rebounding 2.7% after falling 10.6% this week. Elsewhere, Williams Companies (WMB 19.97, -0.60) has fallen 2.9% after reports indicated that Energy Transfer Equity (ETE 12.98, -0.10) may have found a way out of merging with the company.

The U.S. Dollar Index (93.64, -0.14) briefly stumbled to the 93.32 level after the jobs report, but has since pared its losses. The euro/dollar pair spiked to 1.1406 before falling back to 1.1426 (+0.2%). Separately, the dollar has lost 0.6% against the yen (106.65).

The Treasury complex trades on a mixed note with the yield on the 10-yr note rising one basis point to 1.76%.

Today's data included the Employment Situation Report for April:

Nonfarm payrolls increased by 160,000 (Briefing.com consensus 207,000) versus the prior 12-month average of 232,000 and the prior 3-month average of 200,000
March nonfarm payrolls revised to 208,000 from 215,000
February nonfarm payrolls revised to 233,000 from 245,000
Private sector payrolls increased by 171,000 (Briefing.com consensus 191,000)
March private sector payrolls revised to 184,000 from 195,000
February private sector payrolls revised to 222,000 from 236,000
Unemployment rate was 5.0% (Briefing.com consensus 5.0%) versus 5.0% in March
The U6 unemployment rate, which accounts for the total unemployed plus persons marginally attached to the labor force and the underemployed, was 9.7% versus 9.8% in March
Persons unemployed for 27 weeks or more accounted for 25.7% of the unemployed versus 27.6% in March
April average hourly earnings were up 0.3% (Briefing.com consensus 0.3%) after being up 0.2% in March
Over the last 12 months, average hourly earnings have risen 2.5% versus 2.3% in March
Aggregate earnings were up a robust 0.8%
The average workweek was 34.5 hours (Briefing.com consensus 34.5) versus 34.4 hours in March
March manufacturing workweek was unchanged at 40.7 hours Factory overtime was unchanged at 3.3 hours
The labor force participation rate was 62.8% versus 63.0% in March

Today's data will be capped off with the Consumer Credit report for March (Briefing.com consensus $18.0 billion), which will cross the wires at 15:00 ET.

12:30 pm:

[BRIEFING.COM] The major averages have traded sideways since the last update as the tech-heavy Nasdaq (-0.6%) trails the S&P 500 (-0.3%).

The commodity-sensitive energy space (+0.1%) has fallen behind telecom services (+0.3%) and materials (+0.4%).

In utilities (-1.3%), Con Edison (ED 73.35, -2.23) trades lower by 3.0% missing bottom-line estimates for the quarter. Meanwhile, Southern (SO 49.26, -1.35) has slipped 2.7% after offering 18.3 million common shares, generating proceeds of $900 million.

On the economic front, the New York Federal Reserve left its Nowcasting report unchanged, projecting that U.S. GDP will grow 0.8% in the second quarter. Meanwhile, the Atlanta Fed's GDPNow model forecasts that GDP will grow 1.7% in the second quarter. However, the Atlanta Fed is scheduled to update its forecast on May 10.

Treasury yields are mixed with the 2-yr yield unchanged at 0.72% while the yield on the 10-yr note sits at 1.75% (+1 bps). For the 10-yr yield, this represents an eight basis point move from last Friday's settlement at 1.83%.

11:55 am:

[BRIEFING.COM] The S&P 500 trades lower by 0.3%, floating five points off its session low. The benchmark index currently shows a week-to-date loss of 1.0%.

Six sectors trade in the red with utilities (-1.3%), health care (-1.3%), financials (-0.3%), and consumer discretionary (-0.3%) rounding out the leaderboard.

The energy sector (+0.3%) outperforms today as it benefits from a rebound in crude oil. The energy component trades higher by 1.8% ($45.11/bbl), trimming its week-to-date decline to 1.9%. This compares to a loss of 2.2% in the broader energy sector over that period. The energy space leads only materials (+0.4%; week-to-date -2.5%) on the weekly leaderboard.

In the space, independent oil and gas names outperform as Anadarko Petroleum (APC 47.63, +1.53) gains 3.3%. The stock is rebounding from a post-earnings decline that has the company down 9.7% on a week-to-date basis. Meanwhile, EOG Resources (EOG 79.35, -1.91) has declined 2.3% after missing top-line estimates for the quarter.

11:30 am:

[BRIEFING.COM] The major averages have ticked off their session lows as the S&P 500 (-0.2%) trades behind the Dow Jones Industrial Average (UNCH).

Five sectors trade in the green with materials (+0.6%), energy (+0.5%), telecom services (+0.3%), and industrials (+0.2%) leading the pack.

In the consumer discretionary space (-0.2%), Under Armour (UA 38.73, -1.02) displays relative weakness as its extends its week-to-date loss to 13.3%. The stock traded down yesterday following disappointing same-store sales for April. Meanwhile, Dow component Nike (NKE 57.64, -0.55) has lost 2.2% this week. In the media sub-group, Time Warner (TWX 74.52, -1.11) trades lower by 1.5% as it pulls back from yesterday's post-earnings gain of 2.7%. Conversely, Priceline (PCLN 1,246.74, +5.89) trades higher by 0.5% after sinking 7.2% this week after disappointing investors with its guidance.

The U.S. Dollar Index (93.68, -0.09) continues to trade narrowly under its flat line as the yen maintains its gain over the greenback. The dollar/yen pair trades lower by 0.5% (106.72) while the dollar has gained 0.5% against the Canadian dollar (1.2915).

11:00 am:

[BRIEFING.COM] The major indices have returned to their opening lows as the Nasdaq Composite (-0.7%) trails the S&P 500 (-0.5%).

Eight sectors trade in the red with countercyclical health care (-1.3%) trading neck-and-neck with utilities (-1.3%) while financials (-0.6%), and consumer discretionary (-0.5%) lead the pair.

In the health care space (-1.3%), biotechnology demonstrates relative weakness, evidenced by the 2.1% decline in the iShares Nasdaq Biotechnology ETF (IBB 253.73, -5.46). For the week, the ETF has lost 5.3%, compared to a 1.5% decline in the broader sector. Generic pharmaceutical names underperform as they trade lower in sympathy with Endo International (ENDP 16.11, -10.48). The company has plunged 39.4% after lowering its full-year earnings estimates to $4.50-4.80 per share from $5.85-6.20 per share. The broader health care sector has extended its year to date decline to 4.6%, rounding out this year's leaderboard.

On the commodities front, safe have gold has rallied 1.6% to $1,292.80/ozt, extending its week-to-date gain to 2.1% from Friday's settlement at $1,266.10/ozt.

10:30 am: [BRIEFING.COM]

The dollar index gives up some ground, trading briefly below the 93.30 level before staging a modest recovery, currently trading around the 93.64 level, still down -0.2%, boosting commodities overall
Commodities, as measured by the Bloomberg Commodity Index, are up +0.7% at 83.31
Crude oil rallies above the previous session's close, trading to fresh new highs in morning pit trading
June crude oil futures are currently up $0.10 (+0.2%) at $44.43/barrel
Firefighters continue to battle the massive wildfire in Alberta, Canada, which has spread
The fire started on Sunday, thousands more have fled hundreds of miles away since then as a result
It's affecting oil production in Western Canada's oil sands, over 500,000 barrels of oil production/day, to as much as 1 mln barrels/day, have been cut
And even more output could be cut as a result of this wildfire
Suncor Energy (SU) and Royal Dutch Shell (RDS.A) are 2 companies that have cut production in the region
Fort McMurray is in the heart of Alberta's oil sands
Alberta oil sands has the third largest oil reserves in the world, after of Venezuela and Saudi Arabia
Natural gas sees a morning spike, tading near session highs to recover a portion of yesterday's -2.8% losses
June natural gas futures are currently up $0.02 (+0.8%) at $2.09/MMBtu
In precious metals, gold initially spikes before reversing near the $1295.60/oz level and consolidating lower, still up on the day
June gold futures are currently up $18.90 (+1.4) at $1291.20/oz
Silver sees a brief initial spike at the open before consolidating into a modest downtrend in morning pit trading, still in the green for the day
July silver futures are currently up $0.16 (+0.9%) at $17.49/oz
Base metal copper inches lower for the fourth consecutive day in morning pit trading
July copper futures are currently down $0.01 (-0.05%) at $2.15/lb

10:00 am:

[BRIEFING.COM] The major averages continue to trade narrowly under their flat lines as the Nasdaq Composite (-0.3%) trails the S&P 500 (-0.2%) and the Dow Jones Industrial Average (-0.1%).

Two sectors trade in the green with commodity-sensitive materials (+0.6%) and energy (+0.4%). Conversely, utilities (-0.8%) and health care (-0.7%) sport the largest losses.

In the consumer staples spaces (-0.1%), Walgreens Boot Alliance (WBA 78.50, -2.95) demonstrates relative weakness after announcing that it will offer a $15 million common stock offering involving shares held by a subsidiary of Kohlberg Kravis Roberts. The company has declined by 3.6%.

The U.S. Dollar Index (93.62, -0.16) has slipped in recent action as the euro and the yen extend their gains over the dollar. The euro/dollar pair trades higher by 0.2% at 1.1424 while the dollar has lost 0.4% against the yen 106.83.

The Treasury complex trades lower with the yield on the 10-yr note rising one basis point to 1.76%.

9:45 am:

[BRIEFING.COM] The major averages began the day on a lower note with the Nasdaq Composite (-0.1%) trading in-line with the S&P 500 (-0.1%) and the Dow Jones Industrial Average (-0.1%).

Six sector trade in the green with commodity-sensitive materials (+0.5%) and energy (+0.2%) leading to the upside. The remaining gainers trade narrowly between 0.1% (industrials) and 0.2% (consumer discretionary). The four countercyclical sectors sport the only losses as utilities (-1.0%) and telecom services (-0.4%) lead the downside.

In the materials space (+0.5%), aluminum name Alcoa (AA 10.13, +0.11) demonstrates relative strength, evidenced by its 1.0% gain.

Meanwhile, the Dow Jones Transportation Average (-0.1%) trades narrowly beneath its flat line as airlines outperform.

On the commodities front, WTI crude trades lower by 0.4% at $44.13/bbl while gold has gained 1.3% $1,288.60/ozt.

9:16 am: [BRIEFING.COM] S&P futures vs fair value: -10.70. Nasdaq futures vs fair value: -23.50.

The stock market is on track for a lower open with S&P 500 futures trading 11 points below fair value. Futures carved out new lows following the release of the April Employment Situation Report. The report showed weak headline growth (160K, Briefing.com consensus 207K) as well as below-consensus growth in nonfarm private payrolls (171,000; Briefing.com consensus 184,000). Unsurprisingly, the below-consensus readings shifted rate hike expectations with the fed funds futures market estimating the probability of a rate hike at the June meeting at 6.0%. This compares to yesterday's estimate of 13.1%.

Treasuries briefly rallied following the report, but they have since returned to their flat lines. The yield on the 10-yr note is unchanged at 1.74%. Meanwhile, gold has rallied (+1.5% at $1,291.70/ozt) while oil has trimmed its loss to 0.4% at $44.16/bbl. The U.S. Dollar Index (93.59, -0.19) fell to the 93.32 level before the dollar trimmed losses against the euro. The euro/dollar pair spiked to 1.1406 before falling back to 1.1433 (+0.2%). Separately, the dollar has lost 0.5% against the yen (106.70).

In company specific news, Activision Blizzard (ATVI 36.98, +2.07) has gained 5.9% after beating analysts' estimates for the first quarter. The company issued above-consensus earnings and revenue estimates for the second quarter. CIGNA (CI 132.22, -2.71) has declined 2.0% after beating bottom-line estimates, but coming in-line on revenue.

Today's data will be capped off with the Consumer Credit report for March (Briefing.com consensus $18.0 billion), which will cross the wires at 15:00 ET.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -11.70. Nasdaq futures vs fair value: -25.10.

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

Equity markets across the Asia-Pacific region ended the week on a mostly lower note. China's Shanghai Composite (-2.8%) paced the region-wide weakness amid grumblings concerning potential bond defaults. Elsewhere, the Reserve Bank of Australia lowered its 2016 CPI target to 1.0-2.0% from 2.0-3.0%. Also of note, the vice president of Japan's Liberal Democratic Party said the next round of sales tax hikes could be delayed.

In economic data:
Japan's Monetary Base +26.8% year-over-year (consensus 29.3%; last 28.5%)
Australia's April AIG Construction Index 50.8 (previous 45.2)

---Equity Markets---

Japan's Nikkei shed 0.3%, extending its weekly decline to 3.4%. Seven sectors posted losses with materials (-1.5%), industrials (-1.0%), and utilities (-1.0%) leading the retreat. Sharp plunged 8.5% amid concerns about the company's financial standing. Sumitomo Metal Mining, Mitsui Mining & Smelting, Nippon Steel & Sumitomo Metal Corp, and Nitto Denko lost between 3.1% and 5.1%. On the upside, Mitsubishi Motors spiked 6.1% while JTEKT, East Japan Railway, Honda Motor, and Nissan Motor gained between 2.3% and 2.9%.
Hong Kong's Hang Seng fell 1.8% to end the week lower by 4.6%. Most index components finished in the red with Galaxy Entertainment leading the slide. The casino stock lost 4.5% while Li & Fung, Want Want China, New World Development, and Sino Land surrendered between 2.5% and 4.1%.
China's Shanghai Composite sank 2.8%, ending the week lower by 0.9%. China Security & Fire, Routon Electronic, Nanjing Textiles Import & Export Corp, and Shanghai Huitong Energy lost between 9.4% and 10.0%.

Major European indices trade lower across the board with Italy's MIB (-1.7%) leading the retreat. News flow from the region has been very light as participants digest below-consensus readings from the U.S. Employment Situation Report. On that note, nonfarm payrolls increased by 160,000 compared to the Briefing.com consensus estimate of 207k.

Economic data was limited:
Eurozone Retail PMI 47.9 (last 49.2)
Spain's March Industrial Production +2.8% year-over-year (consensus 1.7%; last 2.1%)

---Equity Markets---

Germany's DAX has given up 0.9% amid broad weakness. Allianz trades down 2.0% while basic materials stocks like Thyssenkrupp, Linde, and HeidelbergCement show losses close to 1.3% apiece. Elsewhere, Deutsche Bank is down 0.6% and Commerzbank trades up 0.3%.
UK's FTSE is lower by 1.0% with miners and financials contributing to the weakness. Glencore, Anglo American, Antofagasta, and Rio Tinto are down between 1.2% and 3.5% while Standard Chartered, HSBC, and Old Mutual show losses between 1.4% and 2.3%.
France's CAC trades down 1.6%. Insurer AXA has given up 5.8% while other financials like BNP Paribas and Societe Generale show respective losses of 1.7% and 1.1%. Consumer names like L'Oreal, Kering, Danone, and Essilor International are down between 0.8% and 1.4%.
Italy's MIB underperforms with a loss of 1.7%. Industrial names like Finmeccanica and CNH Industrial are both down near 3.4% while ENI, Salvatore Ferragamo, Unipol, Luxottica, and Mediobanca show losses between 1.0% and 2.0%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: -10.20. Nasdaq futures vs fair value: -20.50.

Equity futures fell to new session lows after a below-consensus reading of the April Employment Situation Report. The S&P 500 futures trade 10 points below fair value.

April nonfarm payrolls came in at 160,000 while the Briefing.com consensus expected a reading of 207,000. The prior month's reading was revised down to 208,000 from 215,000. Nonfarm private payrolls added 171,000 while the consensus expected an increase of 191,000. The unemployment rate remained at 5.0% (Briefing.com consensus 5.0%).

Average hourly earnings increased 0.3%, which was in-line with the consensus. The average workweek was reported at 34.5, in-line with the consensus estimate.

8:04 am: [BRIEFING.COM] S&P futures vs fair value: -5.70. Nasdaq futures vs fair value: -11.40.

U.S. equity futures hover above overnight lows with the S&P 500 futures trading six points below fair value. Futures and global equity markets slipped overnight as investors adopted a risk-off posture ahead of the influential Employment Situation Report for April. The Briefing.com consensus expects nonfarm payrolls to increase by 207k while it also expects the unemployment rate to hold at 5.0%. However, market expectations for the report are likely lower following Wednesday's below-consensus reading of the ADP Employment Change for April (156,000; Briefing.com consensus 196,000). For its part, crude oil has added to the wobbly start as WTI crude slips 1.4% to $43.70/bbl. This represents a decline of 4.9% since last Friday's settlement at $45.96/bbl.

The Treasury complex trades on a flat note with the yield on the 10-yr note unchanged at 1.74%.

On the economic front, data will include the Employment Situation Report for April (Briefing.com consensus 207k) and Consumer Credit for March (Briefing.com consensus $18.0 billion), which will be released at 8:30 ET and 15:00 ET, respectively.

In U.S. corporate news of note:

Tableau Software (DATA 47.62, -3.36): -6.6% after beating on top- and bottom-line estimates for Q1 and raising the low-end of its revenue guidance
Yelp (YELP 23.82, +2.40): +11.2% following the company beating analysts' estimates for Q1
Herbalife (HLF 66.05, +7.73): +13.3% after beating top- and bottom-line estimates for Q1
Endo International (ENDP 19.32, -7.27): -27.3% after lowering guidance for FY16 below-consensus
Square (SQ 10.55, -2.50): -19.2% following the company missing bottom-line estimates for Q1, but raising FY16 guidance

Reviewing overnight developments:

Asia-Pacific indices ended on the week on a lower note with China's Shanghai Composite -2.8%, Hong Kong's Hang Seng -1.8%, and Japan's Nikkei -0.3%.
In economic data:
Japan's Monetary Base +26.8% year-over-year (consensus 29.3%; last 28.5%)
Australia's April AIG Construction Index 50.8 (previous 45.2)
In news:
In China, region-wide weakness has been attributed to grumblings concerning potential bond defaults
The Reserve Bank of Australia lowered its 2016 CPI target to 1.0-2.0% from 2.0-3.0%
The vice president of Japan's Liberal Democratic Party said the next round of sales tax hikes could be delayed

European indices trade lower with France's CAC -1.2%, U.K.'s FTSE -0.9%, and Germany's DAX -0.7%. Elsewhere, Italy's MIB has declined 1.3%.
Economic data was limited:
Eurozone Retail PMI 47.9 (last 49.2)
Spain's March Industrial Production +2.8% year-over-year (consensus 1.7%; last 2.1%)

6:02 am: [BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -12.50.

6:02 am: [BRIEFING.COM] Nikkei...16107...-40.70...-0.30%. Hang Seng...20110...-340.00...-1.70%.

6:02 am: [BRIEFING.COM] FTSE...6081.47...-35.80...-0.60%. DAX...6808.83...-43.20...-0.40%.

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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