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 Post subject: June 13th Monday Trade Results - Profit $7250.00
PostPosted: Tue Jun 14, 2016 4:58 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
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)
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 @ $7250.00 dollars or +145.00 points, Light Crude Oil CL ($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 @ $7250.00 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

Today's 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 to minimize delays in posting of my trades. Also, the free chat room is not a signal calling 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. In addition, 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=2385

The free chat room is not a signal calling chat room. I do not mentor (never have). There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. In contrast, the free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. Please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. The free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages and many different types of social media software can be used to log in. I'm the moderator of the free chat room. Thus, I keep the peace between members and I keep out the trouble makers so that members can peacefully post their observations about the markets, trades and WRB Analysis commentary.

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.

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Market Context Summaries

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

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


4:15 pm: [BRIEFING.COM] The stock market began its week on a lower note as investors weighed ambiguities in the global economic outlook. Furthermore, participants showed a lack of buying conviction ahead of this week's policy meetings at the Federal Reserve and Bank of Japan. Focal points for today's trade included a bid in safe havens, weakening in the U.S. dollar, a violation of technical support at the 2081/2082 price level, and relative weakness from the technology (-1.1%) and industrial (-1.1%) sectors. The Nasdaq Composite (-0.9%) finished behind the S&P 500 (-0.8%) and the Dow Jones Industrial Average (-0.7%).

Equities gapped lower to begin the Monday affair as a negative bias in global indices weighed on domestic stocks. The health of the global economy remained in focus as a mass shooting in the United States, steep losses in Asia, and defensive positioning in Europe each contributed to weakness overseas. Furthermore, tepid economic readings from China and bearish commentary from the IMF regarding China's corporate debt levels also unnerved participants.

The major averages pared some of their opening losses as oil attempted to gain on a softening dollar. However, the reversal in oil would prove to be short lived. WTI crude ended its day lower by 0.4% ($48.88/bbl; -$0.18). The S&P 500 (-0.8%) ebbed lower through afternoon trade, breaking support at the 2084/2085 and finally the 2081/2082 levels. The benchmark index finished near its low as all ten sectors ended in the red with materials (-1.3%), technology (-1.1%), and industrials (-0.7%) showing the largest losses.

The influential technology sector (-0.9%) underperformed as large cap component Apple (AAPL 97.34, -1.49) declined by 1.5%. The stock remained pressured after Nikkei reported that iPhone sales may fall in 2016. Elsewhere, Microsoft (MSFT 50.14, -1.34) finished lower by 2.6% after announcing that it would acquire LinkedIn (LNKD 192.21, +61.13) for $196 per share. Facebook (FB 113.95, -2.67) lost 2.3% after Andrew Left of Citron indicated that he has shorted the stock.

The Dow Jones Transportation Average (-1.1%) ended behind the broader market as weakness in airlines pressured the index and the broader industrial sector (-1.1%). The U.S. Global Jets ETF (JETS 22.37, -0.70) ended lower by 3.0%. On the flipside, Kansas City Southern (KSU 89.36, +0.62) outperformed among rail names.

The CBOE Volatility Index (VIX 20.99, +3.96) jumped 23.3% as investors look forward to the potential macroeconomic implications of the coming weeks. The Federal Reserve will meet tomorrow and Wednesday while the Bank of Japan will meet June 15 and 16. Furthermore, voting in the "Brexit" referendum will conclude on June 23.

The U.S. Dollar Index (94.34, -0.23) ended off its low as the euro and yen each finished with gains against the greenback. The euro/dollar pair ended higher by 0.4% (1.1295) while the dollar lost 0.8% (106.20) against the safe haven yen. Separately, the pound/dollar pair ended lower by 0.1% (1.4237) as investors attempted to account for a shift in "Brexit" polling.

The Treasury complex settled higher as the yield on the 10-yr Note slid three basis points to 1.61%.

Today's participation was below the recent average as fewer than 843 million shares changed hands on the NYSE floor.

Investors did not receive any economic data today.

Tomorrow's economic data will include Import and Export Prices 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.

Russell 2000: +1.9% YTD
Dow Jones +1.8% YTD
S&P 500 +1.7% YTD
Nasdaq -3.2% YTD

3:40 pm: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, pulled back today, but are still holding a 0.2% gain
WTI crude oil pulled back below $49/barrel in afternoon trade, finishing up the session -0.4% at $48.88/barrel
Natural gas sold off some as well, but held some gains, closing +1.2% at $2.59/MMBtu
Metals finished higher as well
Aug gold closed today's session +0.9% at $1286.90/oz, while July silver ended +0.8% at $17.45/oz
July copper rose 1% to $2.05/lb today

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the tech-heavy Nasdaq (-0.6%) trades behind the Dow Jones Industrial Average (-0.5%) and the S&P 500 (-0.5%).

Nine sectors trade in the red with materials (-1.0%), technology (-0.8%), and consumer staples (-0.7%) leading to the downside.

In the financial sector (-0.4%), real estate investment trusts (REITs) demonstrate relative strength, seeing a bid as investors look to the group's dividend yield. Elsewhere, consumer finance names underperform with American Express (AXP 63.88, -1.09) sliding 1.8%. American Express' peer Visa (V 79.02, -1.16) has retreated after Wal-Mart (WMT 70.71, -0.42) announced that it would no longer accept Visa cards at its Canadian locations.

WTI crude ended its day lower by 0.4% ($48.88/bbl; -$0.18) while natural gas finished higher by 1.2% ($2.59/MMbtu).

2:30 pm:

[BRIEFING.COM] The S&P 500 (-0.5%) is attempting to defend support at the 2084/2085 price level, trading two points off its session low.

Nine sectors trade in the red with materials (-0.9%), technology (-0.8%), and industrials (-0.7%) leading to the downside.

In the energy sector (-0.1%) large integrated oil companies outperform with Dow components Chevron (CVX 102.21, +0.23) and Exxon Mobil (XOM 90.79, +0.81) gaining 0.2% and 0.9%, respectively. Conversely, downstream names show the largest losses with Valero Energy (VLO 51.30, -2.13) and Marathon Petroleum (MPC 34.19, -2.21) declining 4.0% and 6.1%, respectively. The broader sector has gained 0.8% this month, trailing materials (-0.9%; month-to-date (+0.9%) over that time.

The U.S. Dollar Index (94.35, -0.22) has weakened in recent trade as the greenback loses more ground to the yen. The dollar/yen pair trades lower by 0.8% (106.12) after briefly ticking up to the 106.25 price level.

On the commodities front, WTI crude trades lower by 0.4% ($48.86/bbl; -$0.21) ahead of its pit session close at 14:30 ET.

2:00 pm:

[BRIEFING.COM] The major averages have stumbled in recent action as the tech-heavy Nasdaq (-0.7%) trails the S&P 500 (-0.5%).

Energy (UNCH), telecom services (UNCH), and utilities (-0.1%) remain near their flat lines while technology (-0.7%) shows the largest loss.

In the consumer staples sector (-0.6%), beverage names demonstrate relative weakness with Coca-Cola (KO 45.17, -0.47) declining 1.0%. Today marks the ex-dividend date for the company's stock, entitling the seller of the stock to the upcoming dividend payment on July 1. The broader sector has gained 1.9% this month, trailing only countercyclical utilities (UNCH; month-to-date +2.8%) and telecom services (UNCH; month-to-date +2.8%).

In company specific news, Apple (AAPL 97.34, -1.49) floats above its session low ($97.10) as the company gives details about updates to its AppleTV, Apple Watch, and Mac operating systems.

On the commodities front, safe haven gold ended its day higher by 0.9% ($1,286.90/ozt; +$11.20). The precious metal has extended its June advance to 5.7%, compared to a loss of 0.4% in the benchmark index.

1:35 pm:

[BRIEFING.COM] The major U.S. indices are relatively flat since our last update, as stocks remain under pressure in today's session.

A look inside the Dow Jones Industrial Average shows that Microsoft (MSFT 50.10, -1.38), American Express (AXP 63.99, -0.98), and Pfizer (PFE 34.84, -0.45) are underperforming. Microsoft is the Dow's biggest laggard following this morning's announcement it would acquire LinkedIn (LNKD 192.43, +61.35) for $196/share in cash, or ~$26.2 bln. Microsoft said it will finance the transaction primarily through the issuance of new indebtedness. Microsoft expects the acquisition to have minimal dilution of ~1% to non-GAAP EPS for the remainder of fiscal year 2017 post-closing and for fiscal year 2018 based on the expected close date, and become accretive to Microsoft's non-GAAP EPS in Microsoft's fiscal year 2019 or less than two years post-closing.

Conversely, Exxon Mobil (XOM 91.14, +1.16) is the best-performing Dow component as the energy sector outperforms, bouncing back from Friday's decline.

Starting off the week in negative territory, the DJIA has trimmed its June gains to 0.21%.

1:10 pm:

[BRIEFING.COM] The stock market trades on a lower note at midday as investors adopt a risk-off posture in the wake of a downturn in global equity markets. Focal points for today's trade have included softening in the dollar, a bid in safe haven assets, and relative weakness from the heavily-weighted technology (-0.6%), health care (-0.4%), and industrial (-0.4%) sectors. At this juncture, the Nasdaq Composite (-0.5%) trades behind the S&P 500 (-0.3%) and the Dow Jones Industrial Average (-0.2%).

Equity indices opened on a lower note as investors weighed sharp declines in global bourses. Overseas indices ticked lower as participants weighed the impact of a tragic act of terrorism in Orlando, growing uncertainty regarding a potential "Brexit" vote, and some lukewarm economic data out of China. Equity indices pared some of their losses in the opening hour as oil reversed. The broader market reached its best level of the day in the first hour before tilting back to the downside.

Equities slid through the afternoon before the S&P 500 (-0.3%) found support near the 2084/2085 price level. At midday, seven sectors trade beneath their flat lines as technology (-0.6%), consumer staples (-0.6%), and health care (-0.4%) round out the board. Conversely, energy (+0.4%), utilities (+0.3%), and telecom services (UNCH) lead the pack. For its part, WTI crude trades lower by 0.6% ($48.80/bbl; -$0.27).

The technology sector (-0.6%) demonstrates relative weakness as large cap Microsoft (MSFT 50.17, -1.31) declines 2.6%. The company announced, ahead of the open, that it would acquire LinkedIn (LNKD 192.51, +61.43) for $196 per share. Fellow large cap Apple (AAPL 97.53, -1.29) underperforms as investors look to bearish iPhone commentary from Nikkei. Elsewhere, Facebook (FB 113.71, -2.91) has declined by 2.5% after Citron's Andrew Left indicated that he is short the stock.

Biotechnology demonstrates relative weakness, evidenced by the 0.9% decline in the iShares Nasdaq Biotechnology ETF (IBB 265.26, -2.34). The group underperforms amid weakness in component Juno Therapeutics (JUNO 41.68, -1.30), which has declined by 3.1%. In the broader health care sector, Dow component Pfizer (PFE 34.77, -0.52) is the second-worst performing component in the price-weighted index.

The growth-sensitive Dow Jones Transportation Average (-0.6%) trades behind the broader market as airline names underperform. The U.S. Global Jets ETF (JETS 22.41, -0.65) has lost 2.8% while United Continental (UAL 43.91, -2.17) declines by 4.7%. In the broader industrial sector, Deere (DE 86.06, +0.39) outperforms after reporting better-than-feared retail sales data for May.

The CBOE Volatility Index (VIX 19.28, +2.25) continues to march higher as the broader market hovers off its session low. The volatility barometer has gained 35.9% since the beginning of June.

The U.S. Dollar Index (94.34, -0.23) trades beneath is flat line as the greenback loses ground to the euro and the yen. The euro/dollar pair trades higher by 0.3% (1.1290) while the dollar has lost 0.9% (106.05) against the safe haven yen. Separately, the pound/dollar pair trades lower by 0.2% (1.4230) as investors price-in the possibility of a "Brexit."

The Treasury complex trades higher as the yield on the 10-yr Note slides three basis points to 1.62%. The spread between the 2-yr Note and the 10-yr Note remains at 91 basis points.

Investors did not receive any economic data today.

12:30 pm:

[BRIEFING.COM] The major averages have bounced off new session lows as the S&P 500 (-0.4%) trades two points above that level. Meanwhile, the more domestic-oriented Russell 2000 (-0.6%) leads the downside.

The telecom services (UNCH) group, heavily-weighted financials (-0.1%), and consumer discretionary (-0.1%) sport the slimmest losses.

In the technology sector (-0.8%), heavyweight component Apple (AAPL 97.37, -1.46) has declined by 1.5% as investors ruminate over a report from Nikkei. The news source reported that iPhone sales may fall in 2016. Additionally, today marks the beginning of the company's Worldwide Developer Conference. Elsewhere, HP (HPQ 13.13, -0.24) has declined by 1.8% while the high-beta chipmakers trade ahead of the broader market. The PHLX Semiconductor Index trades flat, showing a loss of 0.1% for the month of June.

The U.S. Dollar Index (94.42, -0.15) floats off its low as the dollar trades higher against the pound and flat against the Canadian dollar. Separately, the dollar has lost 0.8% against the yen (106.14).

12:00 pm:

[BRIEFING.COM] The major indices have moved to new session lows as the Nasdaq Composite (-0.8%) trades behind the S&P 500 (-0.5%) and the Dow Jones Industrial Average (-0.4%).

Eight sectors trade in the red with technology (-0.9%), consumer staples (-0.8%), materials (-0.6%), and health care (-0.6%) rounding out the leaderboard.

In the industrial sector (-0.6%), airline names show relative weakness as American Airlines (AAL 31.75, -1.39) and United Continental (UAL 43.93, -2.15) decline by 4.2% and 4.7%, respectively. Elsewhere, fellow Dow Jones Transportation Average (-0.9%) component Avis Budget (CAR 32.32, - 0.54) has lost 1.6%. In the broader industrial sector, Deere (DE 86.12, +0.45) has gained 0.5% after reporting some mixed retail sales data for May.

The CBOE Volatility Index (VIX 19.09, +2.06) has climbed to a new high (19.12) as the broader market moves to new session lows. The volatility metric has gained 34.5% since the beginning of June as the benchmark index has declined 0.5% over that time.

11:35 am:

[BRIEFING.COM] The S&P 500 (-0.1%) has ticked down in recent action, trading five points above its session low.

The countercyclical consumer staples sector (-0.6%) trades behind heavily-weighted technology (-0.5%), health care (-0.4%), and industrials (-0.3%).

In the health care space (-0.4%), biotechnology demonstrates relative weakness as the iShares Nasdaq Biotechnology ETF (IBB 265.30,- 2.30) trades near a fresh session low (264.73). In the ETF, Juno Therapeutics (JUNO 41.27, -1.71) has declined by 4.0%. Elsewhere, Dow component Pfizer (PFE 34.78, -0.51) displays relative weakness, sliding 1.5%. The name also sports the worst loss in the price-weighted index. Conversely, Dentsply Sirona (XRAY 65.11, +1.50) has gained 2.3% after Piper Jaffray initiated coverage on the name. The firm designated the company "Overweight", citing a strong dental manufacturer market.

The Treasury complex has ticked higher in recent action as the yield on the 10-yr Note slides two basis points to 1.63%. The spread between the 2-yr Note and the 10-yr Note remains at 92 basis points.

11:00 am:

[BRIEFING.COM] The major averages trade on a mixed note as the tech-heavy Nasdaq (-0.3%) trails the S&P 500 (-0.1%) and the Dow Jones Industrial Average (+0.1%). The uptick in equity indices occurred alongside a reversal in oil.

In the front of the pack, energy (+0.9%), consumer discretionary (+0.3%), and financials (+0.2%) outperform. Conversely, consumer staples (-0.6%) and technology (-0.5%) lead to the downside.

In the consumer discretionary sector (+0.3%), Netflix (NFLX 96.30, +2.55) displays relative strength, gaining 2.7%. In the media sub-group, Dow component Disney (DIS 98.89, +1.55) trades higher by 1.6%. The name also leads the price-weighted index. The SPDR S&P Retail ETF (XRT 41.59,- 0.12) trades lower by 0.3% ahead of tomorrow's retail sales data.

The U.S. Dollar Index (94.27, -0.30) has notched a new session low as the pound and the euro rebound against the greenback. The pound/dollar pair trades higher by 0.2% (1.4289) after ticking off the 1.4120 price level overnight. Separately, the euro has gained 0.4% against the dollar, trading at 1.1298.

Softening in the dollar has boosted dollar-denominated commodities as oil ticks higher by 0.2% ($49.18/bbl; +$0.11).

10:35 am: [BRIEFING.COM]

In recent trade, the dollar index sold off and fell to a new low for the day, which gave some commodities a boost
Commodities, as measured by the Bloomberg Commodity Index, are trading 0.7% higher
WTI crude oil futures have been in the red all day so far, but received a boost following the slid in the dollar index, hitting a new HoD
And in just the last few minutes, July crude just moved into positive territory for the first time today
WTI crude is now +0.1% at $49.10/barrel
Another catalyst this morning is the OPEC report that came out. Within the report, OPEC reported that world oil demand growth for 2016 remains unchanged from the previous report at 1.20 mb/d to average 94.18 mb/d
Meanwhile, May OPEC crude oil production decreased by 100,000 barrels per day to average 32.36 mb/d
July natural gas is trading higher today, extended recent weather-driven gains. Nat gas is now +2.5% at $2.62/MMBtu
Despite the sell-off in the dollar index earlier, July gold futures were pulling back some as well,but remained in positive territory
July gold is now +0.7% at $1285.10/oz, while July silver is +0.6% at $17.44/oz
July copper hit a new HoD in recent trade, now +1.7% at $2.06/lb

10:05 am:

[BRIEFING.COM] The major averages have trimmed their opening loss as the Dow Jones Industrial Average (-0.2%) and the Nasdaq Composite (-0.2%) trading behind the S&P 500 (-0.1%).

Six sectors trade in the green with heavyweight consumer discretionary (+0.3%), financials (+0.2%), and health care (+0.1%) leading to the upside.

In the technology space (-0.5%), Microsoft (MSFT 49.79, -1.69) has declined by 3.3% after announcing that it would acquire LinkedIn (LNKD 193.32, +62.24) for $196 per share. Additionally, Facebook (FB 115.12, -1.50) has declined by 1.3% after Citron's Andrew left indicated that he is short the stock.

The U.S. Dollar Index (94.44, -0.14) has ticked lower in recent action as the euro and the yen lead the buck. The euro/dollar pair trades higher by 0.2% (1.1273) while the yen has gained 0.6% (106.39) against the yen. Separately, the pound erased a loss against the dollar and the pound/dollar pair now trades higher by 0.2% at 1.4278.

9:45 am:

[BRIEFING.COM] As expected, the stock market opened its day on a lower note with the Nasdaq Composite (-0.5%) trailing the S&P 500 (-0.4%) and the Dow Jones Industrial Average (-0.4%).

Eight sectors trade in the red with technology (-0.9%) and industrials (-0.5%) leading to the downside. The remaining decliners sport losses between 0.2% (consumer discretionary) and 0.4% (telecom services). On the flipside, health care (+0.4%) and utilities (+0.1%) sport the only gains.

Gold mining companies demonstrate relative strength as the group moves higher alongside an uptick in the precious metal. Gold has gained 0.9% ($1,287.00; +$11.10).

In the Dow Jones Transportation Average (-0.8%), airlines underperform, evidenced by the 2.3% decline in the U.S. Global Jets ETF (JETS 22.55, -0.52).

The Treasury complex trade higher with the yield on the 10-yr note slipping two basis point to 1.63%.

For its part, WTI crude trades lower by 1.2% ($48.47; -0.60).

9:18 am: [BRIEFING.COM] S&P futures vs fair value: -7.20. Nasdaq futures vs fair value: -22.10.

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

Equity futures were under pressure overnight as investors shifted to safe haven assets amid growing uncertainty in the broader market. Ambiguity in the near-term outlook had a few notable catalysts with a mass shooting in the United States, a sharp selloff in Asia, and continued defensive positioning in Europe contributing to early weakness. In Asia, Japan's Nikkei (-3.5%) led the retreat while disappointing economic data out of China weighed on the broader region. China's fixed asset investment growth decelerated to 9.6% for the January-May period from 10.5% for January-April, which marks the slowest growth rate since 2000.

On the European front, preliminary "Brexit" polling remains in focus as recent data suggests a close vote for the June 23 referendum. In response, sovereign debt yields remain under pressure while equities and other risk assets continue to tumble. For its part, WTI crude trades lower by 1.4% ($48.40/bbl; -$0.67) while gold has benefited from safe haven inflows ($1,288.00; +$12.10; +1.0%).

In M&A news, LinkedIn (LNKD 194.84, +63.76) has spiked 48.6% after Microsoft (MSFT 49.86, -1.62) announced that it would acquire the company for $196 per share or approximately $26.2 billion. Symantec (SYMC 17.75, +0.45) has gained 2.6% after agreeing to acquire Blue Coat for $4.65 billion in cash. The transaction is expected to close in the third quarter of 2016.

There is no economic data of note scheduled for release today.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -5.70. Nasdaq futures vs fair value: -19.40.

Equity futures have ticked lower in recent action as the S&P 500 futures trade six points below fair value.

Equity indices across Asia-Pacific ended the Monday session on a broadly lower note with Japan's Nikkei (-3.5%) leading the region lower. Equity markets retreated as participants responded to a weekend terrorist attack in the U.S., continued concerns about a vote in favor of a 'Brexit,' and disappointing data from China.

In economic data:
China's May Retail Sales +10.0% year-over-year (expected 10.1%; last 10.1%), May Fixed Asset Investment +9.6% year-over-year (consensus 10.5%; previous 10.5%), and May Industrial Production +6.0% year-over-year (consensus 5.9%; last 6.0%). Separately, May FDI +3.8% (previous 4.8%)
Japan's Q2 BSI Large Manufacturing Conditions -11.1 (expected -2.1; last -7.9)
Singapore's Q1 Unemployment Rate held at 1.9%

---Equity Markets---

Japan's Nikkei lost 3.5% with all ten sectors ending in the red. Energy (-4.5%), materials (-4.1%), and financials (-4.1%) led the retreat while consumer staples (-2.3%) ended ahead of other groups. SUMCO, Mazda Motor, Sony Financial Holdings, Advantest, Alps Electric, and Softbank posted losses between 4.7% and 8.2% while Tokyo Dome was the lone advancer, climbing 1.5%.
Hong Kong's Hang Seng fell 2.5% with consumer names leading the slide. China Mengniu Dairy, Belle International, Li & Fung, and Galaxy Entertainment surrendered between 4.2% and 5.7%.
China's Shanghai Composite dropped 3.2%. China Sports Industry, Henan Ancai Hi-Tech, Tibet Urban Development, and China Grand Automotive Services all lost near 10.0%.

Major European indices trade lower across the board as the defensive sentiment carries over from the Asian session. Italy's MIB (-2.7%) has had the weakest showing while other regional indices display slimmer losses. The upcoming 'Brexit' vote has remained in focus with the latest polls suggesting the vote will be a close call.

Investors did not receive any economic data

---Equity Markets---

UK's FTSE is lower by 0.8% with financials and consumer names among the laggards. Aberdeen Asset Management, Lloyds Banking, Hargreaves Lansdown, and Barclays are down between 2.0% and 2.7% while Sainsbury, Marks & Spencer, Merlin Entertainments, and Tesco show losses between 1.2% and 1.9%.
Germany's DAX is down 1.4% with all 30 components in negative territory. Thyssenkrupp has slid 3.1% while exporters Volkswagen, BMW, and Daimler show losses between 1.1% and 2.6%. Financials have also struggled with Commerzbank and Deutsche Bank both down near 2.0%.
France's CAC has given up 1.5%. Growth-sensitive names have struggled with ArcelorMittal diving 6.5% while Technip, Lafarge, and Safran show losses between 2.6% and 4.2%. Financials have also had a tough time with Credit Agricole and Societe Generale down 2.3% and 2.0%, respectively.
Italy's MIB is down 2.7% due to underperformance in bank shares. Banca di Milano Scarl, Banco Popolare, BMPS, Banca Pop Emilia Romagna, UBI Banca, and Mediobanca are down between 3.6% and 7.2%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -13.00.

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

In company specific news, Steel Dynamics (STLD 26.69, +0.81) has gained 3.1% in pre-market trade after beating bottom-line estimates for the quarter and raising its earnings outlook for the second quarter. The company cited improved metal spreads and shipments for the higher outlook. Visa (V 79.10, -1.08) has declined by 1.4% after Wal-Mart (WMT 70.90, -0.24) announced that it would no longer accept credit cards from the company at its Canadian stores. Separately, Apple's (AAPL 98.15, -0.68) Worldwide Developer Conference will start today and run through the end of the week.

The U.S. Dollar Index (94.56, -0.01) trades narrowly beneath is flat line as the greenback gains against the pound and loses ground to the safe haven yen. The pound/dollar pair trades lower by 0.6% (1.4172) as investors weigh concerns regarding a potential "Brexit" vote next week. Separately, the dollar has lost 0.9% against the yen (106.07) as the currency sees safe haven inflows.

8:07 am: [BRIEFING.COM] S&P futures vs fair value: -4.20. Nasdaq futures vs fair value: -13.50.

U.S. equity futures trade lower with the S&P 500 futures floating four points below fair value. Futures slipped overnight as investors adopted a risk-off posture following a weekend terrorist attack in the U.S. The attack left 50 people dead and at least 53 wounded.

Overseas, Japan's Nikkei (-3.5%) led the losses as the index responded to pressure from a sharp rise in the yen. The dollar has lost 0.8% against the safe haven currency (106.12) after briefly hitting the 105.70 price level overnight. In China, disappointing economic data weighed as China's Fixed Asset Investment (+9.6% year-over-year; consensus 10.5%) for May missed estimates. Separately, "Brexit" concerns continue to pressure European equities while sovereign bonds extend their rally.

The Treasury complex trades higher with the yield on the 10-yr note sliding one basis point to 1.63%.

There is no economic data of note scheduled to be released today.

In U.S. corporate news:

Smith & Wesson (SWHC 23.14, +1.73): +8.1% as speculation grows regarding tighter gun control laws, leading to an increase in near-term sales
Valeant Pharmaceuticals (VRX 24.86, +0.72): +3.0% after the company's CEO disclosed the purchase of 202,000 shares worth approximately $4.9 million
Bank of America (BAC 13.62, -0.21): -1.5% amid weakness in European bank names

Reviewing overnight developments:

Asia-Pacific indices ended on a broadly lower note with Japan's Nikkei -3.5%, China's Shanghai Composite -3.2%, and Hong Kong's Hang Seng -2.5%.
In economic data:
China's May Retail Sales +10.0% year-over-year (expected 10.1%; last 10.1%), May Fixed Asset Investment +9.6% year-over-year (consensus 10.5%; previous 10.5%), and May Industrial Production +6.0% year-over-year (consensus 5.9%; last 6.0%). Separately, May FDI +3.8% (previous 4.8%)
Japan's Q2 BSI Large Manufacturing Conditions -11.1 (expected -2.1; last -7.9)
Singapore's Q1 Unemployment Rate held at 1.9%
In news:
Equity markets retreated as participants responded to a weekend terrorist attack in the U.S., continued concerns about a vote in favor of a 'Brexit,' and disappointing data from China.

European indices trade lower with France's CAC -1.4%, Germany's DAX -1.3%, and the U.K.'s FTSE -0.8%. Elsewhere, Italy's MIB (-2.2%) leads the retreat,
Investors did not receive any economic data
In news:
The upcoming 'Brexit' vote has remained in focus with the latest polls suggesting the vote will be a close call.

5:53 am: [BRIEFING.COM] S&P futures vs fair value: -7.30. Nasdaq futures vs fair value: -15.10.

5:53 am: [BRIEFING.COM] Nikkei...16019.18...-582.20...-3.50%. Hang Seng...20512.99...-529.70...-2.50%.

5:53 am: [BRIEFING.COM] FTSE...6088.09...-27.70...-0.50%. DAX...9709.31...-125.30...-1.30%.

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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