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 Post subject: June 20th Monday Trade Results - Profit $487.50
PostPosted: Tue Jun 21, 2016 9:03 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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062016-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+487.50.png
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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 @ $487.50 dollars or +9.75 points, Light Crude Oil CL ($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 @ $487.50 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

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=2390

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.

-----------------------------

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 higher note as investors eyed a rally in global equities following a reversal in Brexit polls. However, the equity indices finished off their highs due to a sell off in the final hour. Focal points for today's trade included a bid in risk assets, softening in the dollar, a rebound in oil, and relative strength in the heavily-weighted industrial (+0.9%) and consumer discretionary (+0.9%) sectors. The Nasdaq Composite (+0.8%) finished ahead of the Dow Jones Industrial Average (+0.7%) and the benchmark index (+0.6%).

Global investors shed their risk-off posture overnight as participants eyed a shift towards the "Remain" camp in the latest round of Brexit polling. In response, the major U.S. indices gapped higher at the start of the session with the S&P 500 (+0.6%) rallying to the 2100 area within the first hour of trade. The benchmark index failed to clear resistance at that psychological level, and ticked lower through the remainder of the session. However, it is worth mentioning that the broader market lost momentum in the late morning, which corresponded with the close of European markets.

Equities continued to slip through the afternoon with the benchmark index failing to maintain support near the 2092/2093 price level. The fading conviction in the final hour of trade was likely related to concerns that there could be another shift in Brexit polling overnight, as well as the recognition that Fed Chair Yellen will be providing the first day of her semiannual monetary policy testimony on Tuesday in front of the Senate Banking Committee.

Nine sectors ended in the green with energy (+0.9%), industrials (+0.9%), and consumer discretionary, (+0.9%) leading the pack. On the flipside, the countercyclical utilities sector (-0.4%) ended with the only loss while telecom services (+0.2%) finished with the slimmest gain.

The Dow Jones Transportation Average (+1.1%) demonstrated relative strength as rail names and logistic companies outperformed. On that note, CSX (CSX 27.01, +0.26) and Kansas City Southern (KSU 89.33, +1.32) gained 1.0% and 1.5%, respectively. Airline names rebounded as the U.S. Global Jets ETF (JETS 21.83, +0.29) rebounded 1.4% after declining 6.6% last week.

Separately, Dow component Boeing (BA 132.75, +2.93) ended at the top of the price-weighted average.

The high-beta chipmakers outperformed in the technology sector (+0.5%), evidenced by the 1.2% gain in the PHLX Semiconductor Index. NVIDIA (NVDA 47.56, +0.84) gained 1.8% after announcing that it launched its latest graphics processor unit for data centers. On a side note, the name notched a new all-time high ($48.17) earlier in the session.

In the consumer discretionary space (+0.9%), travel companies outperformed after Expedia (EXPE 107.19) received an upgrade to "Buy" at Atlantic Equities. Priceline (PCLN 1341.96, +32.72) and TripAdvisor (TRIP 64.66, +1.58) gained 2.5% apiece.

The U.S Dollar Index (93.65, -0.56) ended lower by 0.6% as the euro, commodity currencies, and the pound sterling rebounded against the dollar. The euro/dollar pair ended higher by 0.3% (1.1308) while the pound rallied 2.3% against the buck (1.4685). Finally, the dollar lost 0.6% against the Canadian dollar (1.2811). Oil prices benefited from the dollar's weakness and improved market sentiment, jumping 2.9% ($49.40/bbl; +$1.38) for the session.

The Treasury complex settled near its lows. The yield on the 10-yr note rose six basis points to 1.67% as some of last week's safe-haven positioning trades were unwound.

There was no economic data of note released today.

Tomorrow's economic calendar is again noticeably light, but Fed Chair Yellen is scheduled to begin her biannual testimony before Congress at 10:00 ET. Ms. Yellen will be addressing the Senate Banking Committee and the House Financial Services Committee on Tuesday and Wednesday, respectively.

Nasdaq Composite -3.4% YTD
S&P 500 +1.9% YTD
Russell 2000 +1.9% YTD
Dow Jones +2.2% YTD

3:30 pm: [BRIEFING.COM]

The dollar index is down -0.6% around the 93.66 level, boosting commodities across the board
Commodities, as measured by the Bloomberg Commodity Index, are up +0.8% at 89.45
Crude oil closes just shy of the $50/barrel mark ahead of tomorrow's regularly scheduled API data
July crude oil futures rose $1.38 (+2.9%) to $49.40/barrel
EIA crude oil inventory data is scheduled to be released Wednesday at 10:30 am ET.
Monthly IEA data is scheduled to be released July 13.
API inventory data will be released tomorrow at 4:00 pm ET.
Natural gas surges +5% to close at multi-month highs amid looming concerns over potential emergency reductions in electricity due to a heat wave in Southern California
July natural gas closed $0.13 higher (+5.0%) at $2.75/MMBtu
A contributing factor to today's notable rally is the warning of potential rolling blackouts today and tomorrow after Friday's announcement from California's electric grid operator that they may call for emergency reductions in electricity use due to a heat wave in Southern California.
In precious metals, gold closes near highs of the day, just shy of the previous session's closing price as the dollar shows marked weakness
August gold ended today's session down $2.70 (-0.2%) to $1292.20/oz
Silver trades flat in the afternoon after a modest early morning rally, closing higher on the day
July silver closed today's session $0.09 higher (+0.5%) at $17.51/oz
Base metal copper holds onto its early morning gains, closing notably higher on the day as the dollar weakens
July copper closed $0.04 higher (+2.0%) at $2.09/lb
Grain futures close notably lower ahead of today's weekly crop report
July corn closed $0.17 lower (-3.9%) at $4.21/bushel
July wheat closed $0.07 lower (-1.5%) at $4.74/bushel
November soybeans closed $0.11 lower (-1.0%) at $11.36/bushel
Soybean futures have changed their front month to Nov from July, as indicated by the active amount of volume in the contracts
The crop report is due out at 4 pm ET.

2:55 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the Nasdaq Composite (+1.3%) outperforms the Dow Jones Industrial Average (+1.2%) and the S&P 500 (+1.0%). Separately, the domestic-facing Russell 2000 (+1.5%) demonstrates relative strength.

Nine sectors trade in the green with energy (+1.4%), industrials (+1.3%), consumer discretionary (+1.3%), and technology (+1.2%) leading the advance. On the flipside, countercyclical utilities (-0.1%) show the only decline while fellow safe-haven sector telecom services (+0.4%) shows the slimmest gain.

In the consumer staples sector (+0.6%), CVS Health (CVS 93.28, -1.55) trades lower by 1.6% after being downgraded to "Equal-Weight" from "Overweight" at Morgan Stanley. The firm cited increased competition among Pharmacy Benefits names for the downgrade. Separately, Kroger (KR 34.87, -0.31) has lost 0.9%, extending its June decline to 2.5%. The broader sector has gained 2.4% over that period.

The Treasury complex trades off its session low as the yield on the 10-yr note rises six basis points to 1.67%.

WTI crude finished its day higher, gaining 2.9% ($49.40/bbl; +$1.38).

2:30 pm:

[BRIEFING.COM] The major indices have slipped in recent trade as the S&P 500 (+0.9%) floats ten points off its session high.

The energy sector (+1.2%) trades roughly in-line with the broader market as the commodity-sensitive group benefits from a rally in crude oil. At this juncture, WTI crude trades higher by 2.9% ($49.97/bbl; +$1.41) ahead of its pit session close at 14:30 ET.

In the space, independent oil and gas names outperform while oilfield servicers underperform the sector. Occidental Petroleum (OXY 76.49, +1.54) and EOG Resources (EOG 82.98, +2.09) have gained 2.0% and 2.5% respectively. Elsewhere, Dow component Exxon Mobil (XOM 91.24, +0.52) trades behind the broader market and group. The blue chip stock has gained 14.6% since the February 11th low in the S&P 500. This compares to a gain of 90.6% in oil and 25.6% in the broader Energy Sector SPDR ETF (XLE 67.63, +0.74) over that time.

The U.S. Dollar Index (93.66, -0.52) has slipped in recent action as the greenback ticks lower against the yen. The dollar/yen pair trades lower by 0.2% (103.97).

2:00 pm:

[BRIEFING.COM] The major averages have ticked higher since the last update as the S&P 500 (+1.1%) tests the 2092/2093 price level.

In the health care space (+1.1%), biotechnology demonstrates relative strength, evidenced by the 1.7% gain in the iShares Nasdaq Biotechnology ETF (IBB 260.83, +4.46). In the group, Mallinckrodt PLC (MNK 59.27, +1.24) outperforms after the company's regional pain syndrome drug received orphan drug designation from the FDA. The broader ETF shows a loss of 6.8% since the beginning of June. This compares to a loss of 0.5% in the sector.

In the health care plan sub-group, Humana (HUM 191.03, +3.88) has gained 2.1% after reports indicated that California's Department of Managed Health Care has approved Aetna's (AET 123.26, +2.16) acquisition of the company. Conversely, health care plan name CIGNA (CI 128.24, -1.26) has declined 1.0% after reports signaled potential headwinds that it might face in its proposed merger with Anthem (ANTM 133.24, +0.90).

On the commodities front, gold ended its day lower by 0.2% ($1,292.20/ozt; -$2.70). For the month of June, the precious metal has gained 6.1%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have taken a notable leg lower in recent trade, but still sport strong gains to start the week.

A look inside the Dow Jones Industrial Average shows that Boeing (BA 133.21, +3.39), Goldman Sachs (GS 148.44, +2.80), and Intel (INTC 32.34, +0.58) are outperforming amid broad market strength.

Conversely, Verizon (VZ 53.63, -0.15) is the worst-performing, and lone declining Dow component as telecoms fail to participate in today's market wide rally.

With today's gains, the DJIA has pushed back into positive territory for the month, extending its 2016 gains to 2.5%

1:05 pm:

[BRIEFING.COM] The stock market trades on a broadly higher note at midday as global equity markets lower expectations regarding a potential Brexit. Other contributing factors for today's advance include an uptick in oil, softening in the dollar, and key leadership from the heavily-weighted consumer discretionary (+1.5%), industrial (+1.4%), and financial (+1.2%) sectors. At midday, the Nasdaq Composite (+1.5%) trades ahead of the Dow Jones Industrial Average (+1.2%) and the S&P 500 (+1.1%).

Global bourses rebounded overnight as participants responded to a shift in the probability of a potential Brexit. Polls released over the weekend indicated that the "Remain" camp has reclaimed its advantage over the "Leave" group ahead of Thursday's referendum. In response, investors have adopted a risk-on posture while safe-have assets have been pressured.

The major averages gapped higher to begin the day, notching a session high in the first half hour of trade. However, equities slipped from that level when the benchmark index tested, but failed to clear resistance near the 2100 price area. The S&P 500 (+1.1%) has since found its footing near the 2092/2093 price level. Currently, nine sectors trade in the green with consumer discretionary (+1.5%), industrials (+1.4%), and financials (+1.2%) leading the pack. The remaining gainers show upticks between 0.2% (telecom services) and 1.2% (materials).

The consumer discretionary space (+1.5%) outperforms as retail names and travel companies show the largest gains in the group. The SPDR S&P Retail ETF (XRT 42.16, +0.72) has gained 1.7% amid strength in specialty retailers and apparel names. On that note, Under Armour (UA 38.40, +1.18) has gained 3.2% after being upgraded to "Buy" from "Neutral" at Buckingham Research. Elsewhere, Expedia (EXPE 108.88, +4.74) has jumped 4.6% after Atlantic Equities upgraded the name to "Buy."

In the industrial sector (+1.4%), transport names demonstrate relative strength, evidenced by the 1.8% gain in the Dow Jones Transportation Average. In the group, airlines outperform with United Continental (UAL 43.56, +0.94) and American Airlines (AAL 30.11, +0.77) trading higher by 2.2% and 2.7%, respectively. Elsewhere, Dow component Boeing (BA 133.24, +3.42) tops the price-weighted index.

The economically-sensitive financial sector (+1.2%) trades higher with European banking names as the group looks to rebound from last week's selling. On that note, Royal Bank of Scotland (RBS 6.99, +0.51) and Lloyds Banking Group (LYG 4.16, +0.35) have climbed 7.9% and 9.5%, respectively. In the sector, investment brokerages and life insurance names outperform with Prudential (PRU 73.91, +1.72) and Morgan Stanley (MS 26.04, +0.72) gaining a respective 2.4% and 2.9%.

The U.S Dollar Index (93.66, -0.54) trades lower by 0.6% as the euro and the pound rebound against the dollar. The euro/dollar pair trades higher by 0.4% (1.1317) while the pound has rallied 2.3% against the buck (1.4689). Softening in the greenback has helped dollar-denominated commodities as oil trades higher by 2.4% ($49.73/bbl; +$1.17).

The Treasury complex trades at its session low as the yield on the 10-yr note rises seven basis points to 1.68%. The yield on the 10-yr note has risen ten basis points since registering at 1.58% last Thursday.

There was no economic data of note released today.

12:30 pm:

[BRIEFING.COM] The S&P 500 (+1.0%) has floated sideways since the last update as the benchmark index looks to maintain its footing above the 2092/2093 support level.

In the industrial sector (+1.4%), Dow component Boeing (BA 133.17, +3.35) tops the price-weighted index after Iran stated that it finalized a deal to buy 100 planes from the jet manufacturer. The broader sector has extended its monthly gain to 1.5%.

The Dow Jones Transportation Average (+2.0%) continues to trade ahead of the broader market as airline names rebound. The U.S. Global Jets ETF (JETS 22.03, +0.49) has rebounded 2.3% after losing 6.6% last week. Elsewhere, FedEx (FDX 165.78, +3.53) outperforms ahead of tomorrow evening's earnings report.

In company specific news, recent reports indicated that JD.com (JD 21.83, +1.70) plans to buy part of Wal-Mart's (WMT 71.31, +0.36) China business in an all stock deal. Wal-Mart will own 5.0% of JD.com when the deal, which is valued at approximately $1.5 billion, is complete.

12:00 pm:

[BRIEFING.COM] The major indices have floated lower in recent trade as the S&P 500 (+1.0%) trades eight points off its best level of the day.

The financial sector (+1.2%) has pared larger gains, trading behind technology (+1.2%), industrials (+1.3%) and consumer discretionary (+1.5%).

In the consumer discretionary sector (+1.5%), travel name Expedia (EXPE 108.98, +4.84) outperforms after being upgraded to "Overweight" from "Neutral" at Atlantic Equities. Additionally, Priceline (PCLN 1352.50, +43.26) and TripAdvisor (TRIP 65.48, +2.40) have moved higher in sympathy with the name. In the retail sub-group, specialty retailers outperform with eBay (EBAY 24.74, +0.95) gaining 4.0%. Elsewhere, CarMax (KMX 51.67, +1.55) has climbed 3.1% ahead of tomorrow morning's earnings report.

The U.S Dollar Index (93.64, -0.57) floats off its session low as the dollar trims its loss against commodity currencies and the euro. The dollar has lost 0.7% against the Canadian dollar (1.2805) after ticking of the 1.2770 price level earlier in the session. Elsewhere, the euro has gained 0.4% against the buck (1.1320).

11:30 am:

[BRIEFING.COM] The major averages have traded sideways since our last update as the Nasdaq Composite (+1.7%) trades ahead of the Dow Jones Industrial Average (+1.3%) and the S&P 500 (+1.3%).

The economically-sensitive financial sector (+1.5%) demonstrates broad-based strength as investment brokerages, money center banks, and life insurance names outperform. The space has benefited from a rebound in European banks as Deutsche Bank (DB 16.39, +0.77) jumps 4.9%. The stock has gained 16.0% since notching a new all-time low ($14.13) on June 16.

On the home front, Wells Fargo (WFC 47.51, +0.9) and Citigroup (C 43.32, +0.84) have gained 2.0% apiece. Elsewhere, Dow component Goldman Sachs (GS 148.35, +2.71) outperforms in the price-weighted index. Conversely, real estate investment trusts with primary holdings in health care property underperform. On that note, Welltower (HCN 73.76, -0.49) trades lower by 0.7%.

The Treasury complex trades at a new session low as the yield on the 10-yr note rises seven basis points to 1.68%. The yield on the 10-yr note has risen ten basis points since registering at 1.58% last Thursday.

11:00 am:

[BRIEFING.COM] The S&P 500 (+1.2%) trades four points off its session high after failing to clear resistance near the 2100 price level.

In the technology sector (+1.4%) the high-beta chipmakers demonstrate relative strength, evidenced by the 2.3% gain in the PHLX Semiconductor Index. In the group, NVIDIA (NVDA 47.94, +1.22) outperforms after launching its latest graphics processor chip for data centers. The stock has gained 2.6% and notched a new all-time high ($48.17) earlier in the session. The Semiconductor Index has outperformed thus far this year, gaining 6.2% in 2016. This compares to a loss of 0.1% in the technology sector over that time.

Separately, Apple (AAPL 96.24, +0.91) has gained 0.9%, but still remains behind the broader sector and market. For the month of June, the stock has lost 3.6%, compared to a decline of 1.7% in the broader sector. Elsewhere, fellow large cap Facebook (FB 114.15, +1.13) has gained 1.0%, narrowing this month's loss to 3.9%.

On the commodities front, WTI crude trades higher by 2.2% ($49.65/bbl; +$1.09) while gold has trimmed its loss to 0.3% ($1,290.70/ozt, -$4.10).

10:30 am: [BRIEFING.COM]

The dollar index plummets -0.7%, trading near the 93.54 level, boosting most commodities
Commodities, as measured by the Bloomberg Commodity Index, are up +0.3% at 89.01
Crude oil trades just off its morning highs around $49.21/barrel, up ahead of tomorrow's API inventory data
July crude oil futures are up $0.89 (+1.8%) at $48.87/barrel
API crude oil inventory data is scheduled to be released tomorrow after the bell.
EIA crude oil inventory data is scheduled to be released Wednesday at 10:30 am ET.
Natural gas surges to a fresh high of the day, buoyed by warmer weather forecasts & increased demand for appliances fueled by natural gas
July natural gas futures are up $0.07 (+2.6%) at $2.69/MMBtu
Natural gas EIA inventory data is scheduled to be released this Thursday at 10:30 am ET.
In precious metals, gold consolidates near its lows for the day despite notable weakness in the dollar
August gold futures are down $11.40 (-0.9%) at $1283.50/oz
Silver trades near parity with the previous session's closing price, boosted by a waning dollar index
July silver futures are currently up $0.05 (+0.3%) at $17.46/oz
Base metal copper inches higher as the dollar index drops in morning pit trading
July copper futures are up $0.04 (+1.8%) at $2.09/lb

10:05 am:

[BRIEFING.COM] The major averages continue to trade broadly higher, but equities have pulled back from their opening highs. The S&P 500 (+1.2%) trades two points off its best level of the session.

In front of the pack, financials (+1.9%), industrials (+1.7%), and consumer discretionary (+1.6%) lead while countercyclical telecom services (-0.1%) and utilities (-0.5%) underperform.

In the health care space (+1.0%), biotechnology outperforms, evidenced by the 1.5% gain in the iShares Nasdaq Biotechnology ETF (IBB 259.99, +3.62).

The Dow Jones Transportation Averages (+1.9%) demonstrates relative strength, trimming its monthly loss to 0.8%. This compares to a flat performance from the benchmark index over that time. In the group, rail names outperform as CSX (CSX 27.32, +0.58) gains 2.2%.

The U.S. Index (93.56, -0.65) has ticked off its session low as euro and the pound maintain their advance against the dollar. The euro/dollar pair trades higher by 0.6% (1.1344) while sterling has gained 2.0% against the buck (1.4647). Separately, the dollar has gained 0.3% against the yen (104.50).

9:50 am:

[BRIEFING.COM] As expected, the stock market began the day on a higher note with the Nasdaq Composite (+1.4%) and the Dow Jones Industrial Average (+1.4%) leading the S&P 500 (+1.3%).

Eight sectors opened in the green with financials (+2.0%), industrials (+1.6%), and consumer discretionary (+1.5%) leading the advance. The remaining gainers show upticks between 0.9% (consumer staples) and 1.5% (materials). Conversely, utilities (-0.1%) sports the only loss while telecom services (UNCH) floats near its flat line.

In the financial sector (+2.0%), insurance names demonstrate relative strength with MetLife (MET 43.36, +1.19) and Prudential (PRU 74.32, +2.13) gaining 2.8% and 3.0%, respectively.

Elsewhere, gold mining names underperform as they trade lower in sympathy with a downtick in the precious metal. Gold trades lower by 0.8% ($1,284.00/ozt; -$10.80). However, other mining names outperform as nonferrous metals and aluminum names gain. On that note, Alcoa (AA 9.91, +0.34) has jumped 3.5%.

The Treasury complex trades near its session low as the yield on the 10-yr note rises six basis points to 1.67%.

9:18 am: [BRIEFING.COM] S&P futures vs fair value: +21.80. Nasdaq futures vs fair value: +49.40.

The stock market is on track for a higher open as the S&P 500 futures trade 22 points above fair value.

Futures rallied lockstep with global equities overnight, responding to polls indicating that the "Remain" camp has made up ground ahead of Thursday's Brexit referendum. The development has helped stoke risk appetite across the broader market while safe-haven assets come under pressure. Specifically, European banking names are seeing increased interest, evidenced by Deutsche Bank (DB 16.41, +0.79) gaining 5.1% in pre-market trading. On the flipside, the Treasury complex trades lower with the yield on the 10-yr note rising four basis points to 1.65%.

On the corporate front, CIGNA (CI 129.37, -0.13) has slipped 0.1% amid reports that its planned merger with Anthem (ANTM 132.34, +0.00) may face additional scrutiny from antitrust regulators. Elsewhere, Spirit Airlines (SAVE 44.98, +2.46) has jumped 5.8% after being upgraded to "Outperform" from "Neutral" at Credit Suisse. The firm also raised its price target on the airline from $44 to $55.

The U.S. Dollar Index (93.49, -0.72) trades near its session low as the euro, commodity currencies, and the pound show gains against the buck. The euro/dollar pair has gained 0.6% (1.1346) while the dollar has lost 0.9% against the Canadian dollar (1.2782). Separately, the pound has climbed 2.0% against the dollar (1.4648), rebounding from last week's selling.

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

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +22.50. Nasdaq futures vs fair value: +50.10.

The S&P 500 futures trade 23 points above fair value as European averages continue to outperform.

Equity indices in the Asia-Pacific region began the week on a higher note with Japan's Nikkei (+2.3%) setting the pace. Elsewhere, Reserve Bank of India Governor Raghuram Rajan said he will not seek a second term and will step down once his current assignment is up in September. It has been speculated that Mr. Rajan will be replaced by someone perceived to be more dovish.

In economic data:
China's House Prices +6.9% year-over-year (previous 6.2%)
Japan's May trade surplus narrowed to JPY270 billion (expected JPY130 billion; previous JPY430 billion). May Imports -13.8% year-over-year, as expected (previous -23.3%) and Exports -11.3% year-over-year (consensus -10.4%; last -10.1%)
South Korea's May PPI 0.0% month-over-month (expected 0.3%; last 0.3%); -3.1% year-over-year (consensus -2.8%; last -3.0%)
New Zealand's Westpac Consumer Sentiment 106.0 (previous 109.6)

---Equity Indices---

Japan's Nikkei climbed 2.3% with all ten sectors ending in the green. Materials (+3.0%), energy (+2.9%), and industrials (+2.8%) paced the advance while health care (+1.5%) lagged. Dainippon Screen Manufacturing, J Front Retailing, Nippon Steel & Sumitomo Metal, Dentsu, and TDK gained between 4.9% and 8.0%.
Hong Kong's Hang Seng rallied 1.7% amid broad strength. Financials and property-related names like HSBC, Cheung Kong Property Holdings, Hang Lung Properties, and China Construction Bank advanced between 2.2% and 3.5%. Belle International was the weakest performer, falling 1.0%.
China's Shanghai Composite added 0.1%. Zhejiang Jiahua Energy, Grinm Advanced Metals, and Nuode Investment rallied between 2.0% and 2.8%.

Equity indices across Europe sport broad-based gains with Germany's DAX (+3.7%) and France's CAC (+3.7%) in the lead. Regional equities have climbed amid reports that the latest set of polls points towards a victory for the "Remain" camp in the upcoming referendum on Thursday. The pound (1.4636) has spiked 1.9% against the dollar, returning to levels from two weeks ago.

In economic data:
Germany's May PPI +0.4% month-over-month (expected 0.3%; last 0.1%); -2.7% year-over-year (consensus -2.8%; last -3.1%)
Spain's trade deficit narrowed to EUR640 million from EUR790 million (expected deficit of EUR500 million)

---Equity Markets---

UK's FTSE has surged 3.6% with all but two components taking part in the rally. Financials RBS, Lloyds Banking, Barclays, Standard Chartered, Old Mutual, and Standard Life are up between 4.8% and 7.3%. Homebuilders like Taylor Wimpey and Barratt Developments also outperform, climbing close to 6.6% apiece.
France's CAC trades up 3.7% with Valeo and Accor in the lead. The two have soared close to 5.0% apiece. Financials BNP Paribas, Credit Agricole, and Societe Generale are up between 3.2% and 4.2%.
Germany's DAX is higher by 3.7% amid gains in all 30 components. Volkswagen leads with a 5.2% spike while financials Deutsche Bank, Allianz, and Deutsche Boerse follow with gains between 4.1% and 5.1%. Heidelbergcement is the weakest performer, but is still up 1.7%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +22.50. Nasdaq futures vs fair value: +49.40.

Equity futures continue to hover below overnight highs with the S&P 500 futures trading 23 points above fair value.

In company specific news, Icahn Enterprises increased its bid for the remaining shares of Federal-Mogul (FDML 8.15), raising its offer to $8.00 per share. Elsewhere, Corning (GLW 20.58, +0.29) has ticked higher by 1.4% after Citigroup initiated coverage on the stock. The firm issued a "Buy" rating and a price target of $23.00 on the name, citing seasonal trends for display names.

On the commodities front, WTI crude trades higher by 2.2% ($49.62/bbl; +$1.06) after losing 2.1% last week. Separately, gold has ticked lower by 0.7% ($1,286.20; -$8.60) as safe haven assets come under pressure. Furthermore, the CBOE Volatility Index (17.13, -2.28) has plunged 11.8% as the probability of a Brexit diminishes.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: +23.50. Nasdaq futures vs fair value: +50.60.

U.S. equity futures trade near overnight highs with the S&P 500 futures floating 24 points above fair value. Equity futures rallied alongside global bourses overnight as investors responded to weekend Brexit polls. Recent data indicated that the "Remain" camp holds an edge in the June 23 referendum. European indices pace the advance as Germany's DAX (+3.4%) and France's CAC (+3.4%) outperform. Additionally, the U.S. Dollar Index (93.70, -0.50) has lost 0.5% as the euro and the pound gain against the greenback. The euro/dollar pair has gained 0.4% against the dollar (1.1326) while sterling has surged 2.0% against the buck (1.4637). For its part, WTI crude trades higher by 1.9% ($49.49/bbl; +$0.93).

The Treasury complex trades broadly lower with the yield on the 10-yr note rising six basis points to 1.67%.

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

In U.S. corporate news of note:

Yelp (YELP 27.70, +0.78): +2.9% after receiving an upgrade to "Buy" from "Hold" at Deutsche Bank
Sanofi (SNY 39.57, +1.21): +3.2% following the company's CEO issuing a letter recapping its Q1 performance
Cypress Semiconductor (CY 10.38, -0.23): -2.2% after announcing a $250 million private offering of convertible notes due in 2022
Wal-Mart (WMT 71.55, +0.60): +0.9% following rumors that the company may sell its Yihaodian e-commerce business to JD.com (JD 20.64, +0.51)

Reviewing overnight developments:

Asia-Pacific indices began the week higher with Japan's Nikkei +2.3%, Hong Kong's Hang Seng +1.7%, and China's Shanghai Composite +0.1%.
In economic data:
China's House Prices +6.9% year-over-year (previous 6.2%)
Japan's May trade surplus narrowed to JPY270 billion (expected JPY130 billion; previous JPY430 billion). May Imports -13.8% year-over-year, as expected (previous -23.3%) and Exports -11.3% year-over-year (consensus -10.4%; last -10.1%)
South Korea's May PPI 0.0% month-over-month (expected 0.3%; last 0.3%); -3.1% year-over-year (consensus -2.8%; last -3.0%)
New Zealand's Westpac Consumer Sentiment 106.0 (previous 109.6)
In news:
Reserve Bank of India Governor Raghuram Rajan said he will not seek a second term and will step down once his current assignment is up in September.
It has been speculated that Mr. Rajan will be replaced by someone perceived to be more dovish.

European indices trade broadly higher with Germany's DAX +3.4%, France's CAC +3.4%, and the U.K.'s FTSE +3.3%.
In economic data:
Germany's May PPI +0.4% month-over-month (expected 0.3%; last 0.1%); -2.7% year-over-year (consensus -2.8%; last -3.1%)
Spain's trade deficit narrowed to EUR640 million from EUR790 million (expected deficit of EUR500 million)
In news:
Regional equities have climbed amid reports that the latest set of polls points towards a victory for the "Remain" camp in the upcoming referendum on Thursday.
The pound (1.4637) has spiked 1.9% against the dollar, returning to levels from two weeks ago.

5:55 am: [BRIEFING.COM] S&P futures vs fair value: +22.00. Nasdaq futures vs fair value: +46.60.

5:54 am: [BRIEFING.COM] Nikkei...15965...+365.60...+2.30%. Hang Seng...20510...+340.20...+1.70%.

5:54 am: [BRIEFING.COM] FTSE...9922.63...+372.20...+3.90%. DAX...6175.52...+226.00...+3.80%.

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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