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 Post subject: June 10th Friday Trade Results - Profit $2312.50
PostPosted: Fri Jun 10, 2016 5:51 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
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
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Attachment:
061016-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2312.50.png
061016-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2312.50.png [ 92.4 KiB | Viewed 290 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $2312.50 dollars or +46.25 points, Light Crude Oil CL ($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 @ $2312.50 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 live trades are posted real-time in the timestamp ##TheStrategyLab free chat room. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script. 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 the free ##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=157&t=2384

The free chat room is not a signal calling chat room. I do not mentor (never have) and there's no education in the free chat room although I occasionally give real-time WRB Analysis. Yet, members are allowed to ask questions. The free chat room is on IRC via users request but I also use two other different communication software (e.g. Skype) for other users that do not like IRC simple text format.

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=294&t=3166 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


4:30 pm: [BRIEFING.COM] The stock market ended a mixed week on a lower note as investors eyed a rally in global sovereign bonds and a downturn in equity markets. Other focal points for today's action included a leg lower in oil, strengthening in the dollar, and relative weakness in the heavyweight financial (-1.2%), health care (-0.9%), technology (-1.1%), and the industrial (-1.0%) sectors. The Nasdaq Composite finished lower by 1.3%, extending its weekly loss to 1.0%. Separately, the S&P 500 (-0.9%) ended the week lower by 0.3%.

Equity indices opened under selling pressure as investors eyed sizable losses in European bourses and sinking yields from overseas. Germany's DAX (-2.5%) helped lead the losses as participants reacted to weakness in equities and a continued bid in the Bund. On that note, the yield on 10-yr Bund carved out a new all-time low overnight (0.01%). The weakness in Europe led to yield chasing in U.S. Treasuries and safe-haven inflows to the dollar.

The broader market ebbed lower through the morning as heavily-weighted components helped pace the retreat. Economically-sensitive financials (-1.5%) underperformed noticeably while growth-sensitive groups such as the Dow Jones Transportation Average (-1.5%) and the PHLX Semiconductor Index (-1.7%) also saw their fair share of selling interest.

The S&P 500 (-0.9%) fell to a session low as strengthening in the U.S. Dollar Index (94.54, +0.60) pressured dollar-denominated oil. The energy component carved out a new low ($48.87/bbl) through the afternoon before ending its pit session lower by 2.9% ($49.06/bbl; -$1.47). Nine sectors ended beneath their flat lines with energy (-2.0%), financials (-1.2%), technology (-1.1%), health care (-0.9%) ending behind the broader market. The countercyclical telecom services (+0.8%) and consumer staples (+0.1%) sectors ended with the only gains.

In the financial sector (-1.2%), money center banks, asset management companies, and investment brokerages underperformed as the groups weighed global growth concerns. Citigroup (C 43.90, -1.11) and Bank of America (BAC 13.83, -0.36) both lost 2.5%. Meanwhile, Dow component Goldman Sachs (GS 149.89, -3.28) finished at the bottom of the price-weighted index.

The PHLX Semiconductor Index (-1.7%) ended behind the broader market as the group erased a weekly gain, finishing down 0.9% over that time. In the group, Marvell (MRVL 9.82, -0.38) fell 3.7% after warning investors that its first quarter revenue may miss estimates. On the flipside, Intel (INTC 32.04, +0.10) outperformed after headlines stated that the company won an order to supply Apple (AAPL 98.83, -0.82) with chips for its new iPhone.

The Dow Jones Transportation Average (-1.5%) underperformed as FedEx (FDX 160.87, -3.24) declined by 2.0%. Rail names also weighed with Norfolk Southern (NSC 84.09, -1.51) and Kansas City Southern (KSU 88.50, -1.68) losing 1.8% and 1.9%, respectively. For the week, the index gained 0.5%, compared to a gain of 0.8% in the broader industrial sector (-1.0%).

The SPDR S&P Retail ETF (XRT 41.71, -0.61) declined by 1.4% as investors examined sales metrics and guidance. Urban Outfitters (URBN 26.32, -1.61) fell 5.8% after disappointing with its quarter-to-date comparable store sales data. Influential Netflix (NFLX 93.75, -3.34) ended lower by 3.4%.

The U.S. Dollar Index (94.58, +0.63) finished off its high, gaining against the euro, commodity currencies, and the pound. The euro/dollar pair ended at 1.1255 (-0.5%) while the dollar gained 0.3% against the Canadian dollar (1.2757). The pound fell 1.4% against the dollar (1.4260) as investors ruminated over the potential implications of the looming Brexit vote.

The Treasury complex settled higher as the yield on the 10-yr note slid five basis points to 1.64%.

Today's participation was relatively light as 853 million shares changed hands on the NYSE floor.

Today's economic data included the preliminary reading of the Michigan Sentiment Index for June and the Treasury Budget for May:

The preliminary University of Michigan Consumer Sentiment report for June checked in at 94.3 (Briefing.com consensus 94.0), down slightly from the final reading of 94.7 for May and down from the 96.1 reading seen in June 2015.
This dip was entirely related to a downturn in the Index of Consumer Expectations, which slipped from 84.9 to 83.2. The Current Economic Conditions Index jumped from 109.9 to 111.7.
The takeaway from those respective readings is that consumers are feeling a little better about their current situation, yet have grown more concerned about the outlook.
The report itself said wage gains aided in consumers' assessment of their current financial situation, which is at the best level since the 2007 cyclical peak.
Consumers, though, don't think the economy is as strong as it was last year and they don't expect it to enjoy the same financial health in the year ahead as they thought it might a year ago.
Reservations about the outlook could ultimately curtail their spending behavior; however, it is important to note that income gains are a much more influential driver of spending than sentiment.
The Treasury Budget for May showed a deficit of $52.5 billion versus a deficit of $84.1 billion in May 2015.
The Treasury Budget data is not seasonally adjusted, so the May deficit cannot be compared to the $106.5 billion surplus registered in April (coincided with filing of individual tax returns).
Total receipts in May were $224.6 billion while total outlays were $277.1 billion.
Receipts were $12.2 billion more than receipts from May 2015. Total outlays, meanwhile, were $19.3 billion less than the same period a year ago.
The 12-month deficit narrowed to $479.3 billion from $510.9 billion in April.

Monday's economic data will include Import (Briefing.com consensus) and Export Prices (Briefing.com consensus) for May and May Retail Sales (Briefing.com consensus 0.3%), which will each cross the wires at 8:30 ET. Separately, Business Inventories for April (Briefing.com consensus 0.2%) will be released at 10:00 ET.

Week in Review: S&P 500 Backs Away From 11-Month High

The stock market endured its second consecutive range-boundweek, but this time around, the S&P 500 could not avoid a lower close. Thebenchmark index shed 0.2% for the week while the Nasdaq Composite (-1.0%)underperformed amid weakness in biotechnology.

Equity indices climbed through the first half of the week,but stumbled into the weekend as investors focused on global growth concerns.On Wednesday, the World Bank lowered its 2016 global growth forecast to 2.4%from 2.9%, but stocks climbed despite the warning.

The renewed grumblings about the state of the global economygot louder on Thursday after the Bank of Korea unexpectedly cut its keyinterest rate to a record low of 1.25% from 1.50%. Separately, China reported a0.5% month-over-month decline in May CPI (expected -0.2%). Commodity marketsflashed some red flags as copper futures abruptly reversed from a one-monthhigh to a four-month low, ending the week at $2.028/lb. For its part, crude oilmarked an 11-month high $51.67/bbl on Thursday, but reversed from that leveland continued its retreat through Friday to end the week at $49.06/bbl. Gold(+2.9% to $1275.70/ozt) and silver (+5.7% to $17.31/ozt) advanced even thoughthe Dollar Index ticked up 0.6%.

Another sign of defensive posturing could be found in globalbond markets as European yields plummeted after the European Central Banklaunched its bond purchase program. Germany's 10-yr Bund yield ended the weekat 0.02% after marking a record low at 0.01%.

The global risk-off cocktail pushed out rate hikeexpectations with the probability of a June hike dropping to just 1.9% from6.0% at the end of last week, according to the fed funds futures market. Thelikelihood of a hike in July dropped to 23.0% from 35.0%, leaving December(59.1%) as the month that shows the first 50.0%+ probability of a rate hike.

3:45 pm: [BRIEFING.COM]

Commodities lost some steam today as the dollar index remained in positive territory
The index is currently up 0.7% and near today's HoD
July crude oil closed the day -3% at $49.06/barrel, while July natural gas slipped -2.3% to $2.56/MMBtu
In metals, July gold posted a gain of $3.20 to $1275.70/oz, while July silver gained 0.2% to $17.31/oz
Moving over the base metals, July copper fell -0.5% to $2.03/lb

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade for the week, the tech-heavy Nasdaq (-1.5%) trades behind the S&P 500 (-1.1%) and the Dow Jones Industrial Average (-0.8%).

Nine sectors trade in the red with energy (-2.1%) trailing financials (-1.4%) while technology (-1.2%), health care (-1.2%), consumer discretionary (-1.2%), and industrials (-1.2%) follow in close succession.

In the consumer staples sector (-0.2%), Walgreens Boot Alliance (WBA 82.07, +3.06) has gained 3.9% after reports indicated that the FTC may favor approving its pending acquisition of Rite-Aid (RAD 7.80, +0.23). Elsewhere, the broader sector has gained 0.7% this week, trailing only energy (-2.0%; week-to-date +1.4%) and telecom services (+0.6%; week-to-date +2.6%) over that time.

The CBOE Volatility Index (VIX 17.10, +2.46) has gained 16.7% today as investors look to hedge against potential volatility. For the week, the volatility barometer has gained 27.0%.

The Treasury complex hovers below its session high as the yield on the 10-yr note slips five basis points to 1.64%.

WTI crude ended its day lower by 2.9% ($49.06/bbl; -$1.47), but has gained 0.8% since last Friday's pit session settlement at $48.69/bbl.

2:30 pm:

[BRIEFING.COM] The major indices have extended their sharp losses in recent action and the S&P 500 (-1.1%) is now down 0.3% for the week. The Dow Jones Industrial Average (-0.9%; week-to-date +0.1%) shows the only weekly gain.

Nine sectors hold afternoon losses with the heavyweight financial (-1.4%), consumer discretionary (-1.3%), and industrial (-1.3%) sectors trading behind the broader market.

In company specific news, Monsanto (MON 108.07, -1.92) has carved out a new session low (108.02) after reports indicated that Bayer (BAYRY 99.20, -3.55) made a new offer for the company at the same, previously rejected, price of $122 per share.

The U.S. Dollar Index (94.58, +0.63) has ticked off its high in recent trade as the buck trims its gain against the pound and loses ground against the safe haven yen. The pound/dollar pair trades lower by 1.5% (1.4426) after ticking off the 1.4190 price level. Separately, the dollar has lost 0.4% against the yen (106.63).

WTI crude trades lower by 3.0% ($49.07/bbl; -$1.49) ahead of its pit session close at 14:30 ET.

2:00 pm:

[BRIEFING.COM] The major indices have carved out new session lows in recent action as the S&P 500 (-1.0%) trails the Dow Jones Industrial Average (-0.8%).

The commodity-sensitive energy space (-2.1%) trails financials (-1.4%), consumer discretionary (-1.2%), and industrials (-1.2%).

The Dow Jones Transportation Average (-1.7%) displays relative weakness as Norfolk Southern (NSC 83.69, -1.91) and Kansas City Southern (KSU 88.30, -1.88) decline by 2.1% apiece. For the week, the index has gained 0.2%, compared to a loss of 0.3% in the benchmark index. Elsewhere, the major airlines trade ahead of the broader market while discount carrier JetBlue Airways (JBLU 18.09, -0.34) slides 1.8%. The company cut revenue guidance for the second quarter, but lowered its 2016 capacity estimates. The capacity revision is bullish for the broader airline sector as investors look to a potential improvement to pricing.

On the commodities front, gold ended its day higher by 0.2% ($1,275.70/ozt; +$3.20). For the week, the precious metal has gained 2.6% from last Friday's settlement at $1,243.00/ozt.

Just released, the Treasury Budget statement for May showed a deficit of $52.5 billion. This Treasury data is not seasonally adjusted so the April deficit cannot be compared to the April surplus of $106.5 billion.

1:35 pm:

[BRIEFING.COM] The major U.S. indices remain under noteworthy pressure in afternoon trading, but have ticked higher in recent action.

A look inside the Dow Jones Industrial Average shows that Western Digital (WDC 46.71, -1.46), Caterpillar (CAT 75.88, -1.28), and JPMorgan (JPM 63.87, -0.88) are underperforming amid broad market weakness.

Conversely, Verizon (VZ 53.72, +0.77) is the best-performing Dow component as telecom's vastly outperform the broad market.

Heading into the close, the DJIA is up roughly 0.4% this week at current levels.

1:15 pm:

[BRIEFING.COM] The stock market trades on a lower note at midday as U.S. equities respond to a negative bias in global markets. The tumble in global equities has been fueled by an uptick in government bonds. Additional focal points for today's trade include strengthening in the dollar, weakness in commodities, and the underperformance of the heavily-weighted financial (-1.2%), consumer discretionary (-0.9%), and health care (-0.9%) sectors. The tech-heavy Nasdaq (-1.0%) underperforms the S&P 500 (-0.8%) and the Dow Jones Industrial Average (-0.6%).

The major averages opened their day on a broadly lower note as investors responded to a downturn in global equity markets. Overnight, European bourses led the retreat as investors weighed the potential implications of a continued rally in global sovereign bonds. Germany's DAX lost 2.5% as the yield on the 10-yr Bund briefly hit an all-time low at 0.01%. Additionally, the U.S. Dollar Index (94.43, +0.47) gained in overnight trade, weighing on dollar-denominated commodities.

The benchmark index briefly trimmed its decline, reclaiming the psychological 2100 price level in late-morning trade. However, the slight rebound was retraced as oil notched new session lows. The S&P 500 (-0.8%) trades near a session low as nine sectors show losses. On the bottom of the board, commodity-sensitive energy (-1.6%) trails financials (-1.2%), health care (-0.9%), and consumer discretionary (-0.9%). On the flipside, telecom services (+1.0%) sport the only gain.

The energy space (-1.6%) has faced selling pressure as investors ruminate over a 2.5% ($49.31/bbl; -$1.25) decline in oil. For the week, the commodity-sensitive sector has gained 1.7%, leading the remaining sectors except for telecom services (+1.0%; week-to-date +3.0%).

The economically-sensitive financial sector (-1.2%) is trading lower in sympathy with European banks. On that note, Credit Suisse (CS 12.43, -0.56) and Deutsche Bank (DB 15.76, -0.94) have declined by 4.4% and 5.6%, respectively. Meanwhile, Dow component Goldman Sachs (GS 150.37, -2.80) is the worst component in the price-weighted index.

Biotechnology displays relative weakness in the health care group (-0.9%), evidenced by the 1.9% decline in the iShares Nasdaq Biotechnology ETF (IBB 268.33, -5.25). The ETF is trading lower in sympathy with Mylan Labs (MYL 44.47, -1.29). The company received some bearish commentary from Wells Fargo, citing a potential pricing concern. Elsewhere, Pfizer (PFE 35.37, +0.06) outperforms after announcing the FDA approval of its Dolutegravir medication.

Retail names underperform in the consumer discretionary space (-0.9%) as the SPDR S&P Retail ETF (XRT 41.81, -0.50) declines by 1.2%. The group trades lower after Urban Outfitters (URBN 26.25, -1.68) disappointed investors with its quarter-to-date comparable store sales.

The PHLX Semiconductor Index (-1.5%) trades behind the broader technology sector (-0.8%) as the group erases a weekly gain, trading lower by 0.8% since last Friday.

The U.S. Dollar Index (94.47, +0.52) hovers near a session high as the euro and pound show losses against the buck. The euro has lost 0.4% against the dollar (1.1272) while the pound/dollar pair trades lower by 0.9% (1.4335).

The Treasury complex trades higher as the yield on the 10-yr note slips three basis points to 1.66%. This represents a nine-basis point move since its June settlement at 1.85%.

Today's economic data included the preliminary reading of the Michigan Sentiment Index for June:

The preliminary University of Michigan Consumer Sentiment report for June checked in at 94.3 (Briefing.com consensus 94.0), down slightly from the final reading of 94.7 for May and down from the 96.1 reading seen in June 2015.
This dip was entirely related to a downturn in the Index of Consumer Expectations, which slipped from 84.9 to 83.2. The Current Economic Conditions Index jumped from 109.9 to 111.7.
The takeaway from those respective readings is that consumers are feeling a little better about their current situation, yet have grown more concerned about the outlook.
The report itself said wage gains aided in consumers' assessment of their current financial situation, which is at the best level since the 2007 cyclical peak.
Consumers, though, don't think the economy is as strong as it was last year and they don't expect it to enjoy the same financial health in the year ahead as they thought it might a year ago.
Reservations about the outlook could ultimately curtail their spending behavior; however, it is important to note that income gains are a much more influential driver of spending than sentiment.

The Treasury Budget for May will cross the wires at 14:00 ET.

12:30 pm:

[BRIEFING.COM] The major averages have slipped lower in recent action as the tech-heavy Nasdaq (-1.1%) trades behind the S&P 500 (-0.9%). WTI crude has notched a new session low ($49.26/bbl; -$1.30; -2.6%) as risk assets pull back.

Nine sectors remain in the red with energy (-1.5%), financials (-1.2%), and consumer discretionary (-0.9%) leading to the downside.

The technology space (-0.9%) demonstrates relative weakness as the PHLX Semiconductor Index (-1.6%) erases a weekly gain. Currently, the index sports a loss of 0.9% since last Friday. In the group, Intel (INTC 32.06, +0.12) outperforms after reports indicated that the company received a major chip order from Apple (AAPL 99.00, -0.64). In the broader sector, data storage names underperform with Western Digital (WDC 46.85, -1.32) and Seagate Technology (STX 23.25, -0.89) losing 2.8% and 3.7%, respectively. However, the two names still show respective gains of 0.7% and 3.1% in June.

On the commodities front, gold has crossed its flat line, gaining 0.2% ($1,274.75/ozt; +$2.05).

12:00 pm:

[BRIEFING.COM] Equity indices have ticked lower in recent action, but the S&P 500 (-0.7%) remains above the 2100 price level.

The broader market remains little changed since our last update as a fresh low in oil ($49.45/bbl) keeps energy (-1.3%) near its worst level of the day. On the flipside, telecom services (+1.0%) sport the only gain.

In the consumer discretionary space (-0.8%) the retail sub-group trades slightly behind the broader sector. The SPDR S&P Retail ETF (XRT 41.91, - 0.40) has lost 1.0% as the group trades lower with Urban Outfitters (URBN 26.14, -1.79). The company provided a negative outlook this morning, reporting that its quarter-to-date comparable store sales are negative. Conversely, Dow component Nike (NKE 55.14, +0.20) outperforms in the price-weighted index. The broader discretionary sector has lost 0.7% this week, leading only financials (-1.1%; week-to-date -1.4%).

The U.S. Dollar Index (94.41, +0.46) trades near a new session high as the euro extends its loss against the greenback. The euro/dollar pair trades lower by 0.3% (1.1280) after slipping from the 1.1300 price level earlier.

11:30 am:

[BRIEFING.COM] The S&P 500 (-0.6%) has reclaimed the psychological 2100 price level as the benchmark index trades five points above its session low. For the week, the S&P 500 shows a gain of 0.1%.

The commodity-sensitive energy space (-1.0%) trails heavily-weighted financials (-0.9%) and health care (-0.9%).

In the health care sector (-0.9%), biotechnology underperforms with Mylan Labs (MYL 44.23, -1.53) down 3.4% as investors respond to bearish commentary from Wells Fargo. The firm noted potential pricing concerns facing Mylan. For the week, the iShares Nasdaq Biotechnology ETF (IBB 268.32, -5.26) shows a loss of 4.8%, compared to a decline of 0.7% in the broader health care sector. Elsewhere, Dow component Johnson & Johnson (JNJ 116.84, -0.16) outperforms the broader sector and the price-weighted index. The company reported positive results from its daratumumab study ahead of the session.

On the commodities front, WTI crude hovers above its session low ($49.53/bbl), showing a loss of 1.9% ($49.60/bbl; $-0.96). Participants will receive the latest Baker Hughes Rig Count data at 13:05 ET.

11:05 am:

[BRIEFING.COM] The major averages have floated sideways since the last update as the Nasdaq Composite (-1.0%) trades behind the S&P 500 (-0.7%) and the Dow Jones Industrial Average (-0.5%).

Eight sectors trade in the red with financials (-1.0%), health care (-1.0%), consumer discretionary (-0.9%), and energy (-0.9%) rounding out the leaderboard.

The economically-sensitive financial sector (-1.0%) demonstrates relative weakness as it trades lower alongside European banks. Deutsche Bank (DB 15.84, -0.86) has declined by 5.2% as investors weigh the impact of a tumble in global sovereign bond yields. The German 10-yr Bund yield hit an all-time low of 0.01% earlier in its session.

In the sector, Bank of America (BAC 13.89, -0.29) and Citigroup (C 43.95, -1.06) have declined by 2.1% and 2.4%, respectively. Elsewhere in the group, real estate investment trusts show slimmer losses, likely benefiting from attractive dividend yields, as compared to Treasuries.

The Treasury complex trades near session highs as the yield on the 10-yr note slides five basis points to 1.63%. This represents a 12-basis point decline since June's settlement at 1.85%.

10:30 am: [BRIEFING.COM]

The dollar index sees early morning gains, up +0.3% around the 94.29 level, weighing on commodities
Commodities, as measured by the Bloomberg Commodity Index, -0.3% at 89.59
Crude oil extends last session's losses & consolidates near lows of the day, dropping to levels just below $50.00/barrel in morning pit trading
July crude oil futures are currently down $0.81 (-1.6%) at $49.75/barrel
Baker Hughes rig count data is scheduled to be released today at 1 pm ET
IEA monthly data is scheduled to be released June 14
Natural gas plummets to fresh lows of the day after yesterday's notable surge following EIA storage data
July natural gas futures are down $0.05 (-2.0%) $2.57/MMBtu
In precious metals, gold surges to fresh highs of the day, despite strength in the dollar index
August gold futures are up $6.60 (+0.5%) at $1279.30/oz
Silver sees a boost even as the dollar index gains momentum in morning pit trading
July silver futures are up $0.08 (+0.5%) at $17.35/lb
Base metal copper drifts lower in morning pit trading
July copper futures are down $0.01 (-0.3%) at $2.03/lb

10:05 am:

[BRIEFING.COM] The stock market trades on a broadly lower note as the Nasdaq Composite (-1.0%) trades behind the S&P 500 (-0.8%). The benchmark index trades three points off its session low.

Just released, the preliminary reading of the University of Michigan Consumer Sentiment survey for June decreased to 94.3 (Briefing.com consensus 94.0) from the reading of 94.7 that was reported in May.

All ten sectors continue to trade in the red as financials (-1.1%), technology (-0.9%), consumer discretionary (-0.9%), and industrials (-0.9%) round out the leaderboard.

In the technology space (-0.9%), the high-beta chipmakers underperform evidenced by the 1.5% decline in the PHLX Semiconductor Index. In the index, Marvell (MRVL 9.69, -0.51) has fallen 5.0% after issuing a revenue warning for the first quarter.

The U.S. Dollar Index (94.30, +0.34) trades off a new session high as the greenback extends its gain over the euro and the pound. The euro/dollar pair trades lower by 0.3% (1.1288) while the pound has lost 0.8% against the dollar (1.4340).

9:45 am:

[BRIEFING.COM] As expected, the stock market opened the day on a lower note as the Nasdaq Composite (-1.0%) and the S&P 500 (-0.7%) underperform the Dow Jones Industrial Average (-0.6%).

All ten sectors opened in the red with heavily-weighted financials (-1.2%), health care (-1.0%), consumer discretionary (-1.0%), and industrials (-0.9%) leading to the downside. The remaining decliners sport losses between 0.1% (utilities) and 0.8% (materials).

Gold miners demonstrate relative strength as the group responds to an uptick of 0.3% ($1,276.70/ozt; +$4.00) in the precious metal. Conversely, aluminum names demonstrate relative weakness as Alcoa (AA 9.64, -0.20) declines 2.0%.

Biotechnology underperforms in the health care space (-1.0%), evidenced by the 2.2% decline in the iShares Nasdaq Biotechnology ETF (IBB 267.52, -6.05).

The Treasury complex trades higher as the 10-yr note slips five basis points to 1.64%.

On the commodities front, WTI crude trades lower by 1.8% ($49.65/bbl; -$0.90).

9:19 am: [BRIEFING.COM] S&P futures vs fair value: -15.00. Nasdaq futures vs fair value: -35.70.

The stock market is on track for a lower open as the S&P 500 futures trade 15 points below fair value.

Index futures slid overnight as global indices continued their retreat amid sinking sovereign bond yields. European bourses have led the retreat this morning as Italy's MIB (-3.0%) and Germany's DAX (-2.5%) demonstrate relative weakness.

On the home front, the 10-yr Treasury yield has slipped four basis points to 1.65% while the yield on the 2-yr note registers at 0.75% (-2 bps). The spread between the two yields comes in at a mere 90 basis points. The U.S. Dollar Index (94.22, +0.27) shows a gain of 0.3%, which hasn't helped dollar denominated commodities. Crude oil trades lower by 1.7% ($49.71/bbl; -0.86) while gold has ticked higher by 0.2% ($1,275.40/ozt; +$2.70).

In company specific news, Mylan Labs (MYL 44.31, -1.45) has declined by 3.2% after Wells Fargo issued cautious commentary on the name. Specifically, the firm cited potential pricing concerns. Marvell (MRVL 9.70, -0.56) has fallen 5.5% after the company filed to delay its 10-Q form. The company also warned that its net revenue for the first quarter will be substantially lower than last year. Separately, Rite Aid (RAD 7.81, +0.24) has ticked higher by 3.2% as reports indicate that the Federal Trade Commission is leaning towards approving the company's merger with Walgreens Boot Alliance (WBA 78.65, -0.36).

Today's economic data will be limited to the preliminary reading of the Michigan Sentiment Index for June (Briefing.com consensus 94.0) and the May Treasury Budget. The two reports will cross the wires at 10:00 ET and 14:00 ET, respectively.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: -15.20. Nasdaq futures vs fair value: -35.50.

The S&P 500 futures trade 15 points below fair value.

Equity indices in the Asia-Pacific region ended the week on a lower note while China's Shanghai Composite remained closed for Dragon Boat Festival. The holiday closure made for a relatively quiet session. Bank of Korea Governor Lee Ju-yeol commented on yesterday's rate cut, saying it is not easy for the country to escape low growth and inflation. The central bank governor called for an accommodative fiscal policy stance to match the loose monetary policy.

In economic data:
Japan's May PPI +0.2% month-over-month (expected 0.1%; last -0.3%); -4.2% year-over-year, as expected (previous -4.2%). Tertiary Industry Activity Index +1.4% month-over-month (consensus 0.7%; last -0.7%)
New Zealand's May Electronic Card Retail Sales -0.3% month-over-month (expected 0.5%; last 0.9%); +3.3% year-over-year (last 7.8%)

---Equity Indices---

Japan's Nikkei lost 0.4% to end the week lower by 0.3%. Eight sectors ended in negative territory with energy (-1.7%), communications (-1.1%), and materials (-0.9%) pacing the retreat. Sumitomo Metal Mining, JFE Holdings, Hitachi Construction Machinery, Nippon Steel, Credit Saison, and Dentsu lost between 1.9% and 5.3%.
Hong Kong's Hang Seng fell 1.2% with energy-related names showing relative weakness. China Resources Power and Kunlun Energy lost 4.6% and 4.1%, respectively, while financials like HSBC, Hang Seng Bank, and Ping An Insurance lost between 1.8% and 2.3%.
China's Shanghai Composite was closed. The index surrendered 0.4% for the week.

Major European indices trade lower across the board with Italy's MIB (-2.9%) showing relative weakness. Regional markets are on track to register weekly losses while a continued bid in Germany's 10-yr Bund has pressured its yield to a fresh record low of 0.02%. Germany's Finance Minister Wolfgang Schaeuble commented on the looming Brexit vote, saying the UK will not be able to retain access to the single market by following a Swiss or a Norwegian model in the event of a "Leave" vote.

In economic data:
Germany's May CPI +0.3% month-over-month; +0.1% year-over-year, as expected. May WPI +0.9% month-over-month (expected 0.2%; last 0.3%)
France's April Industrial Production +1.2% month-over-month (expected 0.4%; last -0.4%)
Italy's April Industrial Production +0.5% month-over-month (consensus 0.2%; last 0.0%); +1.8% year-over-year (last 0.5%)

---Equity Markets---

UK's FTSE is lower by 2.1% with financials leading the retreat. Barclays, Prudential, and RBS are down between 2.5% and 3.4%. Select consumer names also display relative weakness. Sky, Tesco, Dixons Carphone, and Carnival show losses between 2.0% and 2.3%.
France's CAC has given up 2.2% as bank shares underperform. AXA, Societe Generale, BNP Paribas, and Credit Agricole are down between 2.4% and 3.6%. Growth-sensitive names like Legrand, Solvay, and Valeo show losses between 2.0% and 2.4%.
Germany's DAX is down 2.6% with all 30 components trading in the red. Lufthansa has dropped 5.5% on news its Chief Financial Officer will step down while bank shares Commerzbank and Deutsche Bank are both down 2.9%.
Italy's MIB has dropped 2.9% with Banca di Milano Scarl, Banca Pop Emilia Romagna, UBI Banca, BMPS, Unicredit, Banco Popolare, and Banca Mediolanum losing between 4.1% and 5.1%.

8:34 am: [BRIEFING.COM] S&P futures vs fair value: -12.50. Nasdaq futures vs fair value: -29.70.

The S&P 500 futures trade 13 points below fair value.

In company specific news, JetBlue Airways (JBLU 18.25, -0.18) has declined by 1.0% after reporting that revenue per available seat mile declined by 7.0% in May. Furthermore, the name also lowered its full-year capacity guidance. J. C. Penney (JCP 8.29, -0.13) has declined by 1.5% in pre-market after pricing a private offering of $500 million in senior secured notes at 5.875%.

The U.S. Dollar Index (94.20, +0.25) trades off its overnight high as the euro, pound, and commodity currencies each lose ground to the greenback. The euro/dollar pair trades lower by 0.1% (1.1305) while the pound has slipped 0.4% (1.4413) against the buck. Meanwhile, the dollar has gained 0.2% against the commodity-sensitive Canadian dollar (1.2750).

8:05 am: [BRIEFING.COM] S&P futures vs fair value: -13.00. Nasdaq futures vs fair value: -29.70.

U.S. equity futures float above overnight lows as the S&P 500 futures trade 13 points below fair value. Futures slid overnight as global equity markets tilted to the downside. The move lower in equities occurred alongside a bid in government bonds. On that note, 10-yr bond yields in Germany, Japan, and the U.K. each briefly carved out new record lows. For its part, WTI crude trades lower by 1.4% ($49.86/bbl; -$0.70) as an uptick in the greenback weighs on dollar-denominated commodities. Elsewhere, gold trades lower by 0.2% ($1,270.30/ozt; -$2.40).

The Treasury complex trades on a higher note with the yield on the 10-yr note slipping three basis points to 1.66%.

On the economic front, data will be limited to the preliminary reading of the Michigan Sentiment Index for June (Briefing.com consensus 94.0) and the May Treasury Budget. The two reports will be released at 10:00 ET and 14:00 ET, respectively.

In U.S. corporate news of note:

H & R Block (HRB 22.15, +0.61): +2.8% after reporting mostly in-line quarterly results and announcing a 10.0% increase to its quarterly dividend
Mattress Firm (MFRM 28.90, -4.68): -13.9% following the company missing analysts' estimates for the quarter and lowering its Q2 and FY17 earnings estimates
Applied Materials (AMAT 24.72, +0.30): +1.2% after having its price target raised to $26 from $24 at RBC Capital Markets
Urban Outfitters (URBN 25.67, -2.26) -8.1% after its comparable store sales thus far for Q2 disappointed

Reviewing overnight developments:

Asia-Pacific markets ended the week on a lower note with Hong Kong's Hang Seng -1.2% and Japan's Nikkei -0.4%. Meanwhile, China's Shanghai Composite remained closed for Dragon Boat Festival.
In economic data:
Japan's May PPI +0.2% month-over-month (expected 0.1%; last -0.3%); -4.2% year-over-year, as expected (previous -4.2%). Tertiary Industry Activity Index +1.4% month-over-month (consensus 0.7%; last -0.7%)
New Zealand's May Electronic Card Retail Sales -0.3% month-over-month (expected 0.5%; last 0.9%); +3.3% year-over-year (last 7.8%)
In news:
Bank of Korea Governor Lee Ju-yeol commented on yesterday's rate cut, saying it is not easy for the country to escape low growth and inflation.
The central bank governor called for an accommodative fiscal policy stance to match the loose monetary policy.

European indices trade lower across the board with Germany's DAX -2.2%, France's CAC -2.0%, and the U.K.'s FTSE -1.8%. Elsewhere, Italy's MIB (-2.7%) showing relative weakness.
In economic data:
Germany's May CPI +0.3% month-over-month; +0.1% year-over-year, as expected. May WPI +0.9% month-over-month (expected 0.2%; last 0.3%)
France's April Industrial Production +1.2% month-over-month (expected 0.4%; last -0.4%)
Italy's April Industrial Production +0.5% month-over-month (consensus 0.2%; last 0.0%); +1.8% year-over-year (last 0.5%)
In news:
Germany's 10-yr Bund has pressured its yield to a fresh record low of 0.02%
Germany's Finance Minister Wolfgang Schaeuble stated that the UK will not be able to retain access to the single market by following a Swiss or a Norwegian model in the event of a "Leave" vote.

5:56 am: [BRIEFING.COM] S&P futures vs fair value: -3.50. Nasdaq futures vs fair value: -24.40.

5:56 am: [BRIEFING.COM] Nikkei...16601...-67.10...-0.40%. Hang Seng...21043...-255.20...-1.20%.

5:56 am: [BRIEFING.COM] FTSE...6141.71...-90.20...-1.50%. DAX...9892.16...-196.70...-2.00%.

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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