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 Post subject: May 10th Tuesday Trade Results - Profit $375.00
PostPosted: Wed May 11, 2016 5:55 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
051016-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+375.00.png
051016-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+375.00.png [ 94.89 KiB | Viewed 359 times ]

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

Quote:
This is actually a losing trading day although the above broker PnL statement shows profit. Its a losing trading day because fees and commissions are shown in another broker window. Therefore, I will document today as a losing trading day regardless to the broker PnL points window.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $375.00 dollars or +7.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $375.00 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=2357

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


4:15 pm: [BRIEFING.COM] The stock market ended the Tuesday affair broadly higher as the S&P 500 (+1.3%; month-to-date +0.9%) erased its monthly loss. Focal points of today's trade included positive data from overseas, a rebound in oil prices, a largely range-bound session in the U.S. dollar, and the outperformance of the heavily-weighted industrial (+1.7%) and financial (+1.4%) sectors. The Dow Jones Industrial Average (+1.3%) ended ahead of the benchmark index (+1.3%) and the tech-heavy Nasdaq (+1.3%).

The stock market began its day with a broad-based rally after most global equity markets traded higher in overnight action. In Germany, the DAX gained 0.7% after Germany's Trade Balance Report for March revealed that export growth (+1.9%; consensus -0.1%) for the month beat analysts' estimates. In Asia, the yen received another reprieve from finance minister Taro Aso. The minister issued another warning of intervention in the currency market should the recent strength in the yen threaten Japan's economy.

The major averages extended their opening gains in lockstep with oil. The energy component climbed throughout the session as it rebounded from yesterday's 2.6% decline. WTI crude ended its day higher by 2.9% at $44.70/bbl. Oil still remains lower by 4.4% since last month's settlement at $46.76/bbl. Supply disruptions in Canada and Nigeria have been widely credited for the increased buying interest.

Equities extended their rally through the afternoon as the six cyclical sectors outperformed. On that note, commodity-sensitive energy (+1.8%) and materials (+1.7%) led industrials (+1.7%), financials (+1.4%), consumer discretionary (+1.3%), and technology (+1.3%) followed.

In the industrial space (+1.7%), farm equipment names and aerospace companies outperformed. Caterpillar (CAT 72.51, +1.73) and Deere (DE 83.81, +3.23) gained a respective 2.4% and 4.0% after the World Agricultural Supply and Demand Estimates Report elicited a bullish response in agriculture names. Meanwhile, rail companies outperformed in the Dow Jones Transportation Average (+1.2%) as CSX (CSX 26.37, +0.52) and Norfolk Southern (NSC 90.31, +2.03) gained 2.0% and 2.3%, respectively.

The financial sector (+1.4%) traded higher in sympathy with European banking names after Credit Suisse (CS 13.90, +0.56) reported better than feared quarterly results. Elsewhere, investment brokerages outperformed as Goldman Sachs (GS 161.42, +3.91) and Charles Schwab (SCHW 28.01 +0.74) jumped 2.5% and 2.7%, respectively. Elsewhere, Leucadia National (LUK 17.71, +0.99) gained 5.9% after it agreed to buy ITG Investment Research from Investment Technology (ITG 18.89, +0.30) for $12 million in cash. Investment Technology does not expect to book a material loss or gain from the deal.

In the consumer discretionary space (+1.3%), Amazon (AMZN 703.24, +23.494) hit a new 52-week intraday high (704.55) after ChannelAdvisor disclosed positive April same stores sales for the company. Separately, Amazon received a price target increase to $1000 from $770 at Deutsche Bank. Elsewhere, Walt Disney (DIS 106.60, +1.26) gained 1.2% ahead of this evening's quarterly report.

The heavyweight technology sector (+1.3%) ended ahead of the broader market as large caps Alphabet (GOOG 723.18, +10.28) and Microsoft (MSFT 51.02, +0.95) outperformed. Meanwhile, Apple (AAPL 93.39, +0.60) ended behind the broader sector as a report from Nikkei weighed. The article received a bearish response as it cited increased competition in the Chinese smartphone market.

The U.S. Dollar Index (94.24, +0.10) finished flat with the greenback gaining against the euro and the yen, but falling against the commodity-sensitive Canadian dollar. The euro/dollar pair finished lower by 0.1% at 1.1370 while the dollar gained 0.9% against the yen (109.28). The dollar/Canadian dollar pair ended lower by 0.4% (1.2914) as it benefited from an uptick in oil.

The Treasury complex ended flat with the yield on the 10-yr note unchanged at 1.75%.

Today's participation was below the recent average as fewer than 831 million shares changed hands on the NYSE floor.

Today's economic data included the March Job Openings and Labor Turnover Survey and Wholesale Inventories for March:

Wholesale inventories increased 0.1% in March (Briefing.com consensus +0.2%) after declining a downwardly revised 0.6% (from -0.5%) in February.
This was the first time in six months that there was an increase in wholesale inventories.
The modest uptick was fueled by a 0.5% increase in nondurable inventories, which was powered by a 2.0% increase in drug inventories and a 3.3% jump in petroleum inventories.
Durable inventories were down 0.1%. That decline was led by a 2.0% drop in metals inventories and a 1.6% drop in electrical inventories. A 1.0% jump in automotive inventories acted as a major offset.
Wholesale sales increased 0.7% following an unrevised 0.2% decline in February.
The wholesale inventories to sales ratio held steady at 1.36, but was up from 1.32 in the same period a year ago.
On a year-over-year basis, wholesale sales are down 2.0% while wholesale inventories are up 0.3%.
The March Job Openings and Labor Turnover Survey showed that job openings decreased to 5.757 million from a revised 5.608 million (revised from 5.445 million) in February.

Tomorrow's economic data will be limited to the 14:00 ET release of the April Treasury Budget.

Nasdaq Composite -3.9% YTD
Russell 2000 -0.6% YTD
S&P 500 +2.0% YTD
Dow Jones +2.9% YTD

3:30 pm: [BRIEFING.COM]

The dollar index continues its morning rally, trading +0.2% at the 94.28 level, not appearing to weigh on commodities overall
Commodities, as measured by the Bloomberg Commodity Index, are up +2.0% at 83.36
Crude oil closes near a fresh high of the day after a steady morning rally and an afternoon of sideways action
June crude oil futures rose $1.25 (+2.9%) to $44.70/barrel
EIA petroleum inventory data is scheduled to be released tomorrow at 10:30 am ET
API inventory data is scheduled to be released after the market close today
Natural gas sees a notable rally, briefly sinking in the afternoon before spiking back up near its highs of the day to close pit trading
June natural gas closed $0.06 higher (+2.9%) at $2.16/MMBtu
In precious metals, gold sees an afternoon spike above the previous session's close, closing near the high of the day
June gold ended today's session down $2.10 (-0.2%) to $1264.70/oz
Silver sees an afternoon spike
July silver closed today's session $0.01 higher (+0.1%) at $17.09/oz
Base metal copper inches lower in afternoon pit trading
July copper closed $0.02 lower (-1.0%) at $2.09/lb
July corn closed $0.12 higher (+3.3%) at $3.80/bushel
US corn yield is projected to be down to 168 bushels per acre, down 0.4 bushels y/y
July wheat closed $0.03 higher (+0.7%) at $4.61/bushel
Wheat production projected to be -3% y/y to 1.998 bln bushels
July soybeans closed $0.53 higher (+5.2%) at $10.80/bushel
Soybean futures at one point in today's session hit its exchange limit of $0.65
The U.S. soybean crush for 2016/17 is projected at 1,915 million bushels, up 35 million from 2015/16. Domestic soybean meal disappearance is projected to increase with expected gains in U.S. meat production. With limited gains for competing exporters, U.S. soybean meal exports are projected at 12.0 million short tons, up 0.5 million from 2015/16
July sugar closed flat at $0.16/lb
Fertilizer stocks: (POT, +3.4%), (MOS, +4.1%), (CF, -0.4%), (AGU, +3.5%), (IPI, +22.5%), (UAN, +5.4%), (TNH, +2.8%), (RNF, +0.0%), (RTK, +2.4), (BG, +0.7%)
Farm machinery: (DE, +3.7%), (AGCO, +2.3%), (CNH, +1.2%), (TITN, +4.5%)
Seed names: (MON, +2.5%), (SYT, -0.5%), (DD, +1.3%), (DOW, +1.3%)
Irrigation (LNN, +2.4%)
Related ETFs: JJG (grains ETF), CORN (corn ETF) and WEAT (wheat ETF), SOYB (soy ETF)

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the Dow Jones Industrial Average (+1.1%) trades in-line with the S&P 500 (+1.1%) and ahead of the Nasdaq Composite (+1.0%).

All ten sectors trade in positive territory with materials (+1.7%), energy (+1.5%), and industrials (+1.5%) leading the pack. Conversely, utilities (+0.4%), health care (+0.6%), and consumer staples (+0.7%) sport the slimmest gains.

In company specific news, Lending Club (LC 4.25, -0.37) has extended its week-to-date decline to 40.1%. The downturn followed the resignation of CEO Renaud Laplanche after an internal review uncovered the sale of $22 million near-prime loans to a single investor. Reports are indicating that Goldman Sachs (GS 161.20, +3.69) and Jefferies have suspended their planned loan purchases from the company as they review the developments.

WTI crude ended its day higher by 2.9% at $44.70/bbl while natural gas also finished higher by 2.9% at $2.16/MMbtu.

2:30 pm:

[BRIEFING.COM] The stock market continues to float near its session high with the S&P 500 (+1.1%) and the Nasdaq Composite (+1.1%) trading neck-and-neck.

The heavyweight financial sector (+1.2%) leads consumer discretionary (+1.1%), technology (+1.1%), and telecom services (+0.9%).

In the technology space (+1.1%), Western Digital (WDC 38.46, +1.50) has gained 4.1% after announcing that China's Ministry of Commerce has approved its acquisition of SanDisk (SNDK 76.60, +1.09). The acquisition is set to close on Thursday May 12. Western Digital has declined 36.1% in 2016, compared to a loss of 2.3% in the broader technology sector over that time. Elsewhere, Apple (AAPL 93.15, +0.36) underperforms after a report from Nikkei stated that competition between Chinese smartphone manufacturers, Apple, and Samsung may result in the two companies seeing shrinking phone shipments to the region. Apple trades higher by 0.3%, well off its session low (92.11).

WTI crude trades higher by 2.2% ($44.43/bbl) ahead of its pit session close at 14:30 ET.

2:00 pm:

[BRIEFING.COM] The major averages float at their session highs with the S&P 500 (+1.1%) trading in-line with the Dow Jones Industrial Average (+1.1%).

The commodity-sensitive materials space (+1.7%) has overtaken industrials (+1.6%) and energy (+1.6%) in front of the pack. On the flipside, countercyclical utilities (+0.1%), health care (+0.6%), consumer staples (+0.7%), and telecom services (+0.8%) show the slimmest gains.

The health care space (+0.6%) underperforms as it pulls back from yesterday's gain of 1.1%. In the group, Allergan (AGN 223.19, +9.48) outperforms after beating bottom-line estimates for the quarter. The company also announced a share buyback program of $10 billion and noted the sale of its generics business to Teva Pharmaceutical (TEVA 52.90, +0.09) should close in June. Elsewhere, Zoetis (ZTS 46.40, -1.10) has declined 2.3% after reports indicated that Pershing Square Capital Management is selling nearly 17 million shares of the company. Despite the divestment, Pershing Square will continue to own nearly 25 million shares of the company. The broader health care space sports the largest year to date loss, having declined 2.4% over that period.

On the commodities front, safe haven gold ended its day lower by 0.2% ($1,264.70/ozt).

1:30 pm:

[BRIEFING.COM] The major U.S. indices continue to sport solid gains in today's trade in a strong, yet quiet session.

A look inside the Dow Jones Industrial Average shows that Goldman Sachs (GS 160.97, +3.46), United Technologies (UTX 102.21, +2.12), and Caterpillar (CAT 72.22, +1.44) are outperforming amid broad market strength.

Conversely, Pfizer (PFE 33.59, -0.23) is the worst-performing Dow component after being removed from BofA/Merrill's US 1 List.

On the heels of today's rally, the DJIA is back in positive territory for the month, currently up 0.6% in May.

At the top of the hour, the Treasury's $24 bln 3-year auction was met with strong demand, drawing a high yield of 0.875% on a bid-to-cover of 2.93%.

1:10 pm:

[BRIEFING.COM] The major averages trade broadly higher at midday as the indices rebound from early May losses. The Dow Jones Industrial Average (+1.1%; month-to-date +0.7%), S&P 500 (+1.0%; month-to-date +0.7%) and Nasdaq Composite (+1.0%; month-to-date +0.5%) have each erased their monthly losses. Today's trade has featured a rebound in crude oil, range-bound action in the dollar, and relative strength from the heavily-weighted industrials (+1.5%) and financial (+1.3%) sectors.

The major averages gapped up to begin the day as investors weighed positive development from overseas. In Japan, finance minister Taro Aso was able to talk down yen strength for the second day, warning of intervention if the Japanese economy appears threatened by the continued strength of its currency. Elsewhere, China's April CPI data (+2.3% year-over-year) fell in-line with expectations while Germany's Trade Balance Report for March showed export growth (+1.9%; consensus -0.1%).

The stock market has been able to extend its initial advance with its move higher supported by a rebound in crude oil and sector leadership from the heavyweight industrial (+1.5%) and financial (+1.2%) sectors. At midday all ten sectors are registering a gain with industrials (+1.5%) leading materials (1.3%), energy (+1.3%) and financials (+1.2%). On the flipside, countercyclical utilities (+0.1%) and health care (+0.5%), and consumer staples (+0.6%) sport the slimmest upticks.

The Dow Jones Transportation Average (+1.1%) outperforms as the broader index rebounds from a May loss of 0.6%. In the group, railroads outperform with Norfolk Southern (NSC 90.04, +1.76) erasing its monthly loss while Union Pacific (UNP 86.31, +1.68) trims its May decline to 1.1%. In the broader industrial sector (+1.5%), Deere (DE 83.78, +3.25) has jumped 4.0% following the World Agricultural Supply and Demand Estimates Report.

The economically-sensitive financial sector (+1.2%) demonstrates broad-based strength with investment brokerages, money center banks, and life insurance names each outperforming. The space has benefited from a better than feared quarterly report from Swiss lender Credit Suisse (CS 13.90, +0.56). Meanwhile, Goldman Sachs (GS 161.04, +3.53) is the second best performer in the Dow.

In the energy space (+1.3%), oilfield service names and independent oil and gas companies outperform. The sector is benefiting from a rebound in crude oil following ongoing supply disruption concerns from Canada and Nigeria. WTI crude trades higher by 2.3% at $44.45/bbl. This represents a loss of 4.9% since April's settlement at $46.76/bbl. On a side note, investors will receive the latest stockpile data from the American Petroleum Institute at 16:35 ET.

Apparel retailers underperform in the consumer discretionary space (+1.0%), evidenced by the 0.1% decline in the SPDR S&P Retail ETF (XRT 43.70, -0.03). The group trades lower in sympathy with Gap (GPS 19.15, -2.66), which has declined 12.2% after reporting a disappointing same stores sales reading for April and issuing a warning regarding first quarter earnings. Elsewhere, Amazon (AMZN 699.08, +19.33) hovers below a fresh 52-week high (701.38). The move followed a price target increase to $1000 from $770 at Deutsche Bank. Separately, ChannelAdvisor reported that Amazon's same store sales rose 12.9% year-over-year in April.

The U.S. Dollar Index (94.24, +0.10) trades on a flat note as the greenback sports gains over the euro and the yen. The euro/dollar pair trades higher by 0.1% (1.1379) while the dollar shows a gain of 0.9% against the yen (109.34).

The Treasury complex on a flat note with the yield on the 10-yr note unchanged at 1.75%.

Today's economic data included the March Job Openings and Labor Turnover Survey and Wholesale Inventories for March:

Wholesale inventories increased 0.1% in March (Briefing.com consensus +0.2%) after declining a downwardly revised 0.6% (from -0.5%) in February.
This was the first time in six months that there was an increase in wholesale inventories.
The modest uptick was fueled by a 0.5% increase in nondurable inventories, which was powered by a 2.0% increase in drug inventories and a 3.3% jump in petroleum inventories.
Durable inventories were down 0.1%. That decline was led by a 2.0% drop in metals inventories and a 1.6% drop in electrical inventories. A 1.0% jump in automotive inventories acted as a major offset.
Wholesale sales increased 0.7% following an unrevised 0.2% decline in February.
The wholesale inventories to sales ratio held steady at 1.36, but was up from 1.32 in the same period a year ago.
On a year-over-year basis, wholesale sales are down 2.0% while wholesale inventories are up 0.3%.
The March Job Openings and Labor Turnover Survey showed that job openings decreased to 5.757 million from a revised 5.608 million (revised from 5.445 million) in February.

12:30 pm:

[BRIEFING.COM] The major averages trade in the neighborhood of new session highs as the Dow Jones Industrial Average (+1.1%) leads the S&P 500 (+1.0%) and the Nasdaq Composite (+1.0%).

The heavyweight industrial sector (+1.6%) has extended its recent gain as materials (+1.4%), energy (+1.3%), and financials (+1.3%) follow.

In the consumer discretionary space (+1.0%), Amazon (AMZN 699.56, +19.81) outperforms as it trades below a recently minted 52-week high (701.38). The move to a fresh high followed ChannelAdvisor reporting that same store sales for the company rose 12.9% year-over-year in April. Additionally, the company has benefited from a price target increase to $1000 from $770 at Deutsche Bank. Elsewhere, apparel retailers underperform as the SPDR S&P Retail ETF (XRT 43.61, -0.12) slips 0.1%. Sector large cap Walt Disney (DIS 106.39, +1.05) has gained 1.0% ahead of its quarterly report, which will be released this evening.

The Treasury complex has floated sideways with the yield on the 10-yr note rising one basis point to 1.76%.

12:00 pm:

[BRIEFING.COM] The major U.S. indices have ticked higher since our last update as the Dow Jones Industrial Average (+1.1%) leads the S&P 500 (+0.9%).

The commodity-sensitive energy sector (+1.3%) trades in line with financials (+1.3%) and ahead of telecom services (+1.2%) and technology (+1.0%). The energy space (+1.4%) outperforms as the group enjoys a rebound in crude oil. The energy component has gained following headlines regarding supply disruption from Canada and Nigeria. WTI crude trades higher by 2.4% at $44.43/bbl, trimming its May loss to 5.0%.

In the space, independent oil and gas companies display relative strength while oilfield services names rebound from recent losses. Schlumberger (SLB 74.16, +1.39) has ticked higher by 1.9% following yesterday's 3.1% decline. The broader sector has lost 3.0% this month, compared to a gain of 0.6% in the benchmark index.

On the commodities front, gold trades lower by 0.5% at $1,260.80/ozt. The safe have commodity has declined 0.4% since April's settlement.

11:30 am:

[BRIEFING.COM] The stock market has floated lower in recent trade as the S&P 500 (+0.8%) hovers two points below its session high.

Countercyclical utilities (+0.2%), and health care (+0.4%) trail materials (+0.7%) and consumer staples (+0.7%) in the back of the pack.

In the industrial sector (+1.2%), rail names and aerospace companies demonstrate relative strength. CSX (CSX 26.26, +0.41) and Union Pacific (UNP 86.18, +1.55) have gained a respective 1.6% and 1.9% today, but the two names still show May losses of 3.7% and 1.2%, respectively. Separately, Dover (DOV 65.16, +2.05) has jumped 3.3% after receiving an upgrade to "Buy" from "Neutral" at Bank of America/Merrill Lynch.

The Dow Jones Transportation Average (+0.9%) has trimmed is month-to-date loss to 0.8%. In the index, Avis Budget (CAR 26.29, +0.50) outperforms.

The U.S. Dollar Index (94.13, -0.01) hovers beneath its flat line as the greenback loses ground to the euro and trims its gain against the yen. The euro/dollar pair trades higher by 0.1% (1.1391) while the dollar shows a gain of 0.7% against the yen (109.12). The dollar/yen pair inched away from the 109.25 level ahead of today's session.

10:55 am:

[BRIEFING.COM] The major averages trade in the neighborhood of their session highs with the Dow Jones Industrial Average (+1.0%) leading the S&P 500 (+0.9%).

The heavily-weighted financial (+1.2%) sector trails industrials (+1.3%) and commodity-sensitive energy (+1.4%) in the front of the pack.

The financial sector (+1.2%) demonstrates relative strength after the Swiss lender Credit Suisse (CS 13.80, +0.46) reported better than feared results for the first quarter. In the group, investment brokerages demonstrate relative strength with Goldman Sachs (GS 160.69, +3.18) and Morgan Stanley (MS 26.73, +0.63) gaining 2.0% and 2.4%, respectively. Elsewhere, Leucadia National (LUK 17.30, +0.58) has gained 3.5% after it agreed to purchase Investment Technology's (ITG 18.89, +0.30) ITG Investment Research arm for $12 million in cash. Investment Technology does not expect to realize a material loss or gain on the deal. The broader financial sector has erased its monthly loss, trading higher by 0.3% in May. However, the group remains down 2.3% for the year.

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

10:30 am: [BRIEFING.COM]

The dollar index is gearing up for another day of modest gains, currently ticking up +0.3% at the 94.16 level, not appearing to weigh on commodities overall
The dollar index is up +1.6% since May 2, 2016
Commodities, as measured by the Bloomberg Commodity Index, are up +1.0% at 82.60
Crude oil sees a morning boost after yesterday's -2.6% decline, erasing more than half of those losses
June crude oil futures are currently up $0.73 (+1.7%) at $44.17/barrel
Saudi oil minister Ali al-Naimi was replaced yesterday by the Chairman of the Saudi Arabian Oil Co, Khalid al-Falih, a contributing factor to future production uncertainties
Color on Canada fires:
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 in the near-term
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 reserve in the world, after Venezuela and Saudi Arabia
Natural gas sees another day of gains, surging upward in morning pit trading
June natural gas futures are currently up $0.05 (+2.5%) at $2.15/MMBtu
In precious metals, gold chops around as it trends lower
June gold futures are currently down $2.10 (-0.2%) at $1264.50/oz
Silver rallies up, increasing the spread between gold and silver
July silver futures are currently up $0.03 (+0.2%) at $17.12/oz
Base metal copper inches lower in morning pit trading
July copper futures are currently down $0.01 (-0.07%) at $2.11/lb

10:05 am:

[BRIEFING.COM] The major averages have extended their opening advance as the S&P 500 (+0.7%) leads the tech-heavy Nasdaq (+0.4%).

All ten sectors trade above their flat lines as energy (+1.1%) trades in-line with heavily-weighted financials (+1.1%) and ahead of industrials (+1.0%) lead. Conversely, countercyclical utilities (+0.1%) and health care (+0.3%) sport the slimmest gains.

Just released, March wholesale inventories increased 0.1% while the Briefing.com consensus expected a uptick of 0.2%. Today's report followed last month's revised reading of -0.6% (from -0.5%)

Separately, the March Job Openings and Labor Turnover Survey showed that job openings decreased to 5.757 million from a revised 5.608 million (revised from 5.445 million) in February.

9:45 am:

[BRIEFING.COM] The stock market opened its day on a higher note as the Dow Jones Industrial Average (+0.7%) leads the S&P 500 (+0.5%) and the Nasdaq Composite (+0.2%).

Nine sectors trade in the green with energy (+1.2%), financials (+0.9%), and industrials (+0.9%) leading the advance. The remaining gainers sport upticks between 0.2% (health care) and 0.7% (telecom services). Countercyclical utilities (-0.1%) shows the only loss.

In the consumer discretionary space (+0.6%), apparel retailer demonstrates relative weakness as the group trades lower in sympathy with Gap (GPS 19.29, -2.53). The name has surrendered 11.7% after reporting below-consensus same stores sales figures for April and issuing a warning regarding first quarter earnings.

In the industrial space (+0.9%), aerospace names outperform with Boeing (BA 133.85, +1.75) and United Technologies (UTX 101.44, +1.35) gaining 1.3% apiece.

On the commodities front, WTI crude trades higher by 1.8% ($44.29/bbl) while gold has lost 0.1% and trades at $1265.10/ozt.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +9.50. Nasdaq futures vs fair value: +13.50.

The stock market is on track for a higher open as S&P 500 futures trade 10 points above fair value. Global equity markets moved higher overnight following fresh chatter from Japanese officials regarding possible intervention into the foreign exchange market. Finance Minister Taro Aso signaled that the country may look to intervene should one-sided action continue to pose risks to Japan's economy. Elsewhere, China's April CPI reading (+2.3%; consensus +2.3%) fell in line with estimates and was followed by a flat performance in the country's indices. Futures have since moved lockstep with oil this morning, each notching highs and lows in tandem. At this juncture, WTI crude trades higher by 0.4% at $43.60/bbl.

In company specific news, SolarEdge Technologies (SEDG 21.00, -1.59) has declined 7.0% after being removed from the Conviction Buy List at Goldman Sachs. The company is also trading lower in sympathy with SolarCity (SCTY 17.86, -4.65) after SolarCity disappointed investors with its quarterly results and guidance. Walt Disney (DIS 105.74, +0.40) trades higher by 0.4% ahead of this evening's quarterly report. Separately, Hertz Global (HTZ 8.95, +0.19) has gained 2.2% after issuing better-than-feared guidance for full-year earnings.

Today's economic data will include March Job Openings and Labor Turnover Survey and Wholesale Inventories for March (Briefing.com consensus +0.2%), which will both cross the wires at 10:00 ET

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +9.60.

Equity futures have floated sideways since our last update as the S&P 500 futures trade nine points above fair value.

Equity indices across the Asia-Pacific region ended Tuesday on a mostly higher note. Japan's Nikkei (+2.2%) was the regional stand out as the yen registered another near-1.0% decline against the dollar while Finance Minister Taro Aso cautioned against excessive moves in the yen once again. Elsewhere, inflation data from China came in mixed relative to expectations.

In economic data:
China's April CPI -0.2% month-over-month, as expected (previous -0.4%); +2.3% year-over-year (consensus 2.4%; last 2.3%). April PPI -3.4% year-over-year (expected -3.8%; last -4.3%) and April Foreign Direct Investment +4.8% (previous 4.5%)
New Zealand's April Electronic Card Retail Sales +0.9% month-over-month (consensus 0.5%; last 0.1%); +7.8% year-over-year (last 6.2%)

---Equity Markets---

Japan's Nikkei climbed 2.2% with nine sectors registering gains. Communications (+3.2%), materials (+2.9%), and financials (+2.6%) outperformed while energy (-0.6%) lagged. Nitto Denko, NGK Industries, Alps Electric, Olympus, and Mitsubishi Electric gained between 4.2% and 8.2%.
Hong Kong's Hang Seng added 0.4%. China Mobile, Cathay Pacific Air, Sands China, and Tencent Holdings posted gains between 0.8% and 1.6%. On the downside, Lenovo sank 6.4% after receiving a downgrade.
China's Shanghai Composite settled flat after spending the day in a narrow range. Anhui Golden Seed Winery, Shanghai Zhongyida, Whirlpool China, and Wintime Energy posted gains between 4.8% and 5.8%.

European markets trade in the green, but regional indices have slipped from their best levels of the day. Investors received some mixed economic data this morning that included a record current account surplus in Germany (EUR30.40 billion; previous surplus of EUR21.10 billion). Elsewhere, European officials have said that the Eurogroup meeting regarding Greece has been productive and a deal between the two sides is expected within the next few days.

In economic data:
Germany's March trade surplus EUR23.60 billion (expected surplus of EUR20.50 billion; previous surplus of EUR20.00 billion) as Imports -2.3% month-over-month (expected -0.3%; last 0.1%) and Exports +1.9% month-over-month (consensus -0.1%; last 1.3%). Separately, March Industrial Production -1.3% month-over-month (expected -0.2%; last -0.7%)
UK's March trade deficit GBP11.20 billion (expected deficit of GBP11.30 billion; previous deficit of GBP11.43 billion)
France's March Industrial Production -0.3% month-over-month (consensus 0.5%; last -1.3%) and March Government Budget Balance -EUR27.50 billion (last -EUR25.60 billion)
Italy's March Industrial Production 0.0% month-over-month (consensus 0.2%; last -0.7%); +0.5% year-over-year (consensus 1.0%; last 1.1%)
Swiss April Unemployment Rate slipped to 3.5% from 3.6%, as expected

---Equity Markets---

France's CAC trades up 0.2% amid gains in most components. Peugeot has jumped 2.6% while financials like Societe Generale, BNP Paribas, and Credit Agricole are up between 0.9% and 2.2%. On the downside, Nokia Oyj and Sanofi hold respective losses of 3.5% and 2.1%.
UK's FTSE is higher by 0.3% with financials and consumer names among the leaders. EasyJet, TUI, InterContinental Hotels, Barclays, Anglo American, and Standard Chartered hold gains between 1.6% and 2.5%. Miners and homebuilders underperform with Antofagasta, Glencore, Randgold Resources, Taylor Wimpey, and Barratt Developments showing losses between 0.6% and 2.4%.
Germany's DAX has climbed 0.4% with Volkswagen and Deutsche Bank pacing the advance. The two names hold respective gains of 2.9% and 2.7% while BMW and Commerzbank are up 1.3% and 0.4%, respectively. On the downside, Munich Re has given up 2.9% and Thyssenkrupp trades down 2.3%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +9.00. Nasdaq futures vs fair value: +12.80.

Equity futures have moved higher alongside oil. The S&P 500 futures trade nine points above fair value.

In company specific news, Zoetis (ZTS 46.50, -1.00) has ticked lower by 2.1% following reports indicating that Bill Ackman's Pershing Square sold 17 million shares of the company. Credit Suisse (CS 13.65, -0.42) trades lower by 3.0% after missing top- and bottom-line estimates for the first quarter. The company reported that revenue fell 26.6% year-over-year for the first quarter. Separately, Lending Club (LC 4.47, -0.15) has extended its losing streak by 3.3% after receiving a downgrade at Guggenheim from "Buy" to "Neutral."

On the commodities front, WTI crude trades higher by 0.5% ($43.66/bbl) after ticking off its pre-market low of $43.26/bbl. Meanwhile, gold briefly moved into positive territory before slipping back to $1,265.70/ozt (-0.1%).

The Treasury complex trades flat with the yield on the 30-yr (2.61%) bond and 10-yr (1.75%), 5-yr (1.19%), and 2-yr (0.71%) notes unchanged.

8:00 am: [BRIEFING.COM] S&P futures vs fair value: +7.30. Nasdaq futures vs fair value: +10.30.

The S&P 500 futures float seven points above fair value after the benchmark futures slid from a pre-market high in the early morning hours. The move lower occurred as WTI crude slipped from the $43.90/bbl price level. Currently, the energy component trades lower by 0.3% at $43.30/bbl. Elsewhere, the U.S. Dollar Index (94.32, +0.19) trades higher as the greenback sports gains against the yen and euro. The dollar/yen pair trades higher by 0.8% (109.20) after further commentary from Japan's Finance Minister Aso cautioned that Japan would intervene in the foreign exchange market should "one-sided" yen strength hurt its economy. Elsewhere, the euro/dollar pair trades lower by 0.1% at 1.1366.

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

On the economic front, data will be limited to March Job Openings and Labor Turnover Survey and Wholesale Inventories for March (Briefing.com consensus +0.2%), which will both cross the wires at 10:00 ET,

In U.S. corporate news of note:

Gap (GPS 19.25, -2.56): -11.7% after reporting that April same stores sales missed consensus estimates. The company also issued a Q1 earnings warning
SolarCity (SCTY 18.00, -4.51): -20.0% following the company missing bottom-line estimates for Q1 and lowering Q2 guidance below-consensus
Stamps.com (STMP 103.20, +14.86): +16.8% after beating top- and bottom-line estimates for Q1 and raising earnings estimates for FY16 above analysts' estimates
Lumber Liquidators (LL 11.51, -1.94): -14.4% following the company missing earnings estimates for Q1 and disclosing receipt of another subpoena through a 10-Q filing
Allergan (AGN 213.80, +0.09): +0.1% after beating bottom-line estimates on light revenue and announcing a $10 billion share buyback program

Reviewing overnight developments:

Asia-Pacific indices ended mostly higher with Japan's Nikkei +2.2%, Hong Kong's Hang Seng +0.4%, and China's Shanghai Composite settled flat.
In economic data:
China's April CPI -0.2% month-over-month, as expected (previous -0.4%); +2.3% year-over-year (consensus 2.4%; last 2.3%). April PPI -3.4% year-over-year (expected -3.8%; last -4.3%) and April Foreign Direct Investment +4.8% (previous 4.5%)
New Zealand's April Electronic Card Retail Sales +0.9% month-over-month (consensus 0.5%; last 0.1%); +7.8% year-over-year (last 6.2%)
In news:
The yen registered another near-1.0% decline against the dollar while Finance Minister Taro Aso cautioned against excessive moves in the yen once again.
Inflation data from China came in mixed relative to expectations.

European markets trade higher with Germany's DAX +0.5%, France's CAC +0.3%, and the U.K.'s FTSE +0.2%.
In economic data:
Germany's March trade surplus EUR23.60 billion (expected surplus of EUR20.50 billion; previous surplus of EUR20.00 billion) as Imports -2.3% month-over-month (expected -0.3%; last 0.1%) and Exports +1.9% month-over-month (consensus -0.1%; last 1.3%). Separately, March Industrial Production -1.3% month-over-month (expected -0.2%; last -0.7%)
UK's March trade deficit GBP11.20 billion (expected deficit of GBP11.30 billion; previous deficit of GBP11.43 billion)
France's March Industrial Production -0.3% month-over-month (consensus 0.5%; last -1.3%) and March Government Budget Balance -EUR27.50 billion (last -EUR25.60 billion)
Italy's March Industrial Production 0.0% month-over-month (consensus 0.2%; last -0.7%); +0.5% year-over-year (consensus 1.0%; last 1.1%)
Swiss April Unemployment Rate slipped to 3.5% from 3.6%, as expected
In news:
European officials have said that the Eurogroup meeting regarding Greece has been productive and a deal between the two sides is expected within the next few days.

5:53 am: [BRIEFING.COM] S&P futures vs fair value: +13.80. Nasdaq futures vs fair value: +24.30.

5:53 am: [BRIEFING.COM] Nikkei...16565...+349.20...+2.20%. Hang Seng...20243...+85.90...+0.40%.

5:53 am: [BRIEFING.COM] FTSE...6167.57...+52.80...+0.90%. DAX...10085.74...+105.30...+1.10%.

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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