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 Post subject: June 21st Tuesday Trade Results - Loss $3,050.00
PostPosted: Wed Jun 22, 2016 8:29 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 @ ($3,050).00) dollars or -61.00 points, Light Crude Oil CL ($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 Loss @ ($3,050.00) 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=2391

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


4:10 pm: [BRIEFING.COM] The stock market ended the Tuesday affair on a flat note as fears regarding a potential Brexit remained in focus. Additional factors contributing towards today's trade included strengthening in the dollar, weakening in oil prices, largely in-line commentary from Fed Chair Janet Yellen, and sector leadership from heavily-weighted technology (+0.7%) and financials (+0.5%). The S&P 500 (+0.3%) ended its day ahead of the Dow Jones Industrial Average (+0.1%) and the Nasdaq Composite (+0.1%).

Equity indices opened on a higher note as investors weighed developments in the latest round of Brexit polling. European indices extended their recent winning streak as an ORB poll for the Telegraph showed that the "Remain" camp maintains a lead over the "Leave" faction. However, a Survation poll showed that the referendum remains highly contested with both camps polling within one percentage point of one another.

The benchmark index slipped from its opening high as investors weighed testimony from Fed Chair Janet Yellen. The central bank head struck a cautious tone, stating that uncertainties persist in her economic outlook. Specifically, Chair Yellen cited that improvements in the labor market have slowed while global developments need to be monitored. The commentary fell largely in-line with market expectations, mirroring similar remarks from last Wednesday's post-FOMC press conference.

The S&P 500 carved out a session high in the final ninety minutes of trade, but failed to clear technical resistance at the 2093 price level. As a result, the benchmark index ended its day off its best level as six sectors finished in the green. The commodity-sensitive energy (+1.1%) sector led telecom services (+0.7%), technology (+0.7%), and financials (+0.5%) while materials (-0.3%), health care (-0.3%), and consumer discretionary (-0.2%) ended in the back of the pack.

The heavily-weighted technology sector (+0.7%) demonstrated relative strength as Dow component Microsoft (MSFT 21.19, +1.12) outperformed. The name jumped 2.2% and finished at the top of the price-weighted index. Elsewhere, Western Digital (WDC 48.87, +1.26) gained 2.7% after announcing that it would collaborate with Hewlett Packard Enterprise (HPE 19.76, +0.38) and VMware (VMW 60.98, +0.21) on the production of rack servers. The PHLX Semiconductor Index (+0.3%) finished behind the broader sector while component Micron (MU 12.75, +0.42) outperformed.

In the financial sector (+0.5%), rate-sensitive real estate investment trusts outperformed as American Tower (AMT 109.44, +2.02) gained 1.9%. Elsewhere, Berkshire Hathaway (BRK.B 143.53, +1.86) advanced 1.3% while Wells Fargo (WFC 47.23, +0.30) and JPMorgan Chase (JPM 62.95, +0.58) led money center bank names.

Biotechnology underperformed in the health care space (-0.3%), evidenced by the 1.5% decline in the iShares Nasdaq Biotechnology ETF (IBB 254.79, -3.74). In the sub-group, Vertex Pharmaceuticals (VRTX 85.27, -1.45) and Celgene (CELG 96.86, -2.43) fell 1.7% and 2.5%, respectively.

The U.S. Dollar Index (94.12, +0.51) gained 0.5% as the pound, euro, and yen lost ground to the greenback. The sterling lost 0.5% against the buck (1.4617) while the euro declined 0.6% (1.1250) against the dollar. Separately, the dollar gained 0.9% against the safe haven yen (104.86). The uptick in the dollar weighed on commodities as WTI crude finished its pit session lower by 0.3% ($49.77/bbl; -$0.15).

The Treasury complex settled lower as the yield on the 10-yr note rose one basis point to 1.70%.

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

There was no economic data of note released today.

Tomorrow's data will include the weekly MBA Mortgage Index and the FHFA Housing Price Index, which will be released at 7:00 ET and 10:00 ET, respectively. Finally, Existing Home Sales for May (Briefing.com consensus 5.50 million) will cross the wires at 10:00 ET.

Nasdaq Composite -3.3% YTD
Russell 2000 +1.6% YTD
S&P 500 +2.2% YTD
Dow Jones +2.3% YTD

3:30 pm: [BRIEFING.COM]

The dollar index extends this morning's gains, up +0.5% around the 94.07 level, weighing on select commodities
Commodities, as measured by the Bloomberg Commodity Index, are down -1.0% at 88.58.
Crude oil reverses off its afternoon lows to close near its highs of the day, still lower ahead of tonight's API inventory data
August crude oil futures fell $0.15 (-0.3%) to $49.77/barrel.
Crude oil futures have changed their front months to August from July, as indicated by the active amount of volume in the contracts.
API inventory data is scheduled to be released today after the bell.
EIA petroleum inventory data is scheduled to be released tomorrow at 10:30 am ET.
EIA natural gas inventory data is scheduled to be released Thursday at 10:30 am ET.
Natural gas sees an afternoon of consolidation, inching higher into the close after clocking in +5% gains in the previous session
July natural gas closed $0.02 higher (+0.7%) at $2.77/MMBtu.
In precious metals, gold trades sideways in the afternoon, dropping near its lows of the day into the close
August gold ended today's session down $19.80 (-1.5%) to $1272.40/oz.
Silver sees a similar move to gold, seeing an afternoon of consolidation and then falling into the close as the dollar extends its momentum
July silver closed today's session $0.19 lower (-1.1%) at $17.32/oz.
Base metal copper inches higher despite the dollar staging a recovery above the 94.07 level
July copper closed $0.03 higher (+1.4%) at $2.12/lb.

3:00 pm:

[BRIEFING.COM] The S&P 500 (+0.4%) and the Dow Jones Industrial Average (+0.3%) have notched new session highs, trading ahead of the tech-heavy Nasdaq (+0.2%).

Seven sectors trade in the green with telecom services (+1.1%) and energy (+1.1%) leading the advance. The remaining gainers show upticks between 0.1% (industrials) and 0.6% (technology). Conversely, health care (-0.2%), consumer discretionary (-0.2%), and materials (-0.1%) round out the board.

In the financial sector (+0.7%), Berkshire Hathaway (BRK.B 143.33, +1.66) demonstrates relative strength while Morgan Stanley (MS 26.26, +0.36) outperforms among brokerage names. Money center banks have gained in recent trade as Wells Fargo (WFC 47.31, +0.38) and JPMorgan Chase (JPM 62.97, +0.60) climb 0.9% and 1.0%, respectively.

The Treasury complex trades at a session low as the yield on the 10-yr note rises one basis point to 1.70%.

WTI crude ended its pit session lower by 0.3% ($49.77/bbl; -$0.15), trimming its monthly gain to 1.4%.

2:30 pm:

[BRIEFING.COM] The major indices have gained in recent action as the S&P 500 (+0.4%) trades ahead of the Dow Jones Industrial Average (+0.3%). The uptick in equities corresponded to crude oil trimming its loss.

The energy sector (+1.1%) outperforms among cyclical sectors as the group shows resilience to a downturn in oil. At this juncture, WTI crude trades lower by 0.3% ($49.83/bbl; -$0.13) ahead of its pit session close at 14:30 ET. Investors will receive the latest inventory data from the Department of Energy tomorrow and the report is expected to show that crude stockpiles declined by 1.67 million barrels while gasoline stockpiles fell by 0.32 million barrels.

In the sector, oilfield service names, refiners, and independent oil and gas companies outperform. On that note, Valero Energy (VLO 52.40, +0.71), EOG Resources (EOG 84.75, +1.56), and Baker Hughes (BHI 46.79, +0.91) have gained between 1.4% and 2.0%. However, Williams Companies (WMB 21.39, -0.92) underperforms as investors weigh the potential implications of an ongoing case regarding the company's merger with Energy Transfer Equity (ETE 14.30, +2.10).

2:00 pm:

[BRIEFING.COM] The major averages have inched lower in recent action, leaving the S&P 500 (+0.2%) just above its flat line. On the flipside, the domestically-oriented Russell 2000 (-0.8%) underperforms.

In the back of the pack, health care (-0.4%) and consumer discretionary (-0.3%) trade behind materials (-0.3%) and industrials (UNCH).

In consumer staples (+0.4%), consumer goods names outperform with General Mills (GIS 66.52, +0.64) and Campbell Soup (CPB 63.13, +0.72) gaining 1.0% and 1.2%, respectively. The sector has outperformed this month as investors look to the group's dividend yield for potential downside protection. On that note, consumer staples have gained 2.4% in June and trail only countercyclical telecom services (+1.1%; month-to-date: +5.5%) and utilities (+0.5%; month-to-date: +3.6%) over that time.

On the commodities front, gold ended its pit session lower by 1.5% ($1,272.40/ozt; -$19.80) amid strengthening in the dollar and easing tensions ahead of Thursday's Brexit referendum. However, the CBOE Volatility Index (18.93, +0.56) has ticked higher by 3.2% after erasing an 8.0% loss.

1:30 pm:

[BRIEFING.COM] Equity indices continue meandering near their recent levels with the S&P 500 (+0.2%) holding posture just ahead of the Nasdaq Composite (-0.1%).

Seven sectors trade above their flat lines with the telecom services group (+1.1%) in the lead while the remaining advancers show gains of no more than 0.7% (energy). The energy sector has enjoyed a strong start to the week and is now the top performer since last Friday. The sector has been able to stay among the leaders even though WTI crude trades down 1.3% at $49.30/bbl.

Treasuries have dipped to lows after a $34 billion 5-yr auction, which was met with a cool reception, resulting in a bid-cover ratio of 2.29% (12-auction average 2.45%). Indirect bidders took 57.2% of the issue, leaving direct bidders with 3.7% of the supply.

The 10-yr note sits on its low, leaving its yield unchanged at 1.69%.

1:05 pm:

[BRIEFING.COM] The stock market trades on a flat note at midday as investors respond to the latest round of Brexit polls and cautious testimony from Fed Chair Yellen. Additional focal points for today's trade have included strengthening in the dollar, weakness from the oil pit, and the outperformance of the heavily-weighted technology (+0.5%) and financial (+0.3%) sectors. The S&P 500 (+0.2%) trades in-line with the Dow Jones Industrial Average (+0.2%) and ahead of the Nasdaq Composite (-0.1%).

Equity indices opened the day on a higher note as a positive bias in global bourses buttressed U.S. markets. The move higher in equities followed the latest batch of polls for Thursday's Brexit referendum. An ORB poll for the Telegraph showed that the "Remain" camp leads the "Leave" camp while a Survation Brexit poll indicated that the two sides remain in a close race.

The S&P 500 (+0.2%) pulled back after the opening half hour as investors listened to testimony from Fed Chair Yellen. The Fed Chair maintained that a cautious approach to interest rate normalization remains prudent as uncertainties regarding global developments and a slowdown in U.S. hiring pose potential headwinds to the U.S. economy. The benchmark index notched a session high following the prepared remarks, but pulled back as European markets closed.

The major averages have ticked higher in recent action, retracing a portion of their losses from after the European close. At this juncture, six sectors trade in the green with telecom services (+1.2%), energy (+0.7%), utilities (+0.6%), and technology (+0.5%) leading the advance while health care (-0.3%), materials (-0.3%), and consumer discretionary (-0.3%) round out the board.

In the influential technology space (+0.5%), large cap component Microsoft (MSFT 51.05, +0.98) outperforms, gaining 2.0%. Elsewhere, fellow heavyweights Apple (AAPL 96.09, +0.99) and Facebook (FB 114.63, +1.26) have added 1.1% apiece. Elsewhere, Adobe Systems (ADBE 98.56, +0.57) has gained 0.7% ahead of this evening's earnings report.

The Dow Jones Transportation Average (-0.4%) demonstrates relative weakness as rail names and transportation service names lag. On that note, CSX (CSX 26.65, -0.35) and Kirby (KEX 66.46, -3.37) have lost a respective 1.3% and 4.8%. Conversely, airlines outperform after United Continental (UAL 44.51, +1.11) estimated that its second-quarter revenue per available seat mile will come in near the high end of its guidance.

In the consumer discretionary space (-0.3%), media names underperform after Deutsche Bank commentated that a recombination of Viacom (VIAB 43.59, -1.26) and CBS (CBS 53.18,- 0.84) remains unlikely. Elsewhere, Lennar (LEN 45.89, -0.77) has fallen 1.7% despite beating analysts' estimates for the quarter.

The U.S. Dollar Index (94.01, +0.40) has gained 0.4% as the euro and the yen show the largest losses against the buck. The euro has lost 0.5% against the dollar (1.1259) while the dollar has gained 0.7% against the yen (104.66). Separately, the greenback has ticked higher by 0.1% against the commodity-sensitive Canadian dollar (1.2811).

The Treasury complex trades on a flat note as the yield on the 10-yr note sits unchanged at 1.69%.

There was no economic data of note released today.

12:25 pm:

[BRIEFING.COM] The major averages have traded higher since the last update as the S&P 500 (+0.2%) leads the Nasdaq Composite (+0.1%).

Four sectors trade in the red with materials (-0.4%), health care (-0.3%), consumer discretionary (-0.2%), and industrials (-0.1%) rounding out the leaderboard.

In the health care space (-0.3%), biotechnology demonstrates relative weakness, evidenced by the 1.8% loss in the iShares Nasdaq Biotechnology ETF (IBB 253.95, -4.60). In the sub-group, Vertex Pharmaceuticals (VRTX 83.92, -2.80) weighs, sliding 3.3%. Separately, Valeant Pharmaceuticals (VRX 21.63, -0.89) notched a new six-year low this session (21.41), but has since ticked off that level.

On the flipside, Dow components Merck (MRK 56.32, +0.18) and Pfizer (PFE 34.71, +0.21) outperform in the price-weighted index, gaining 0.3% and 0.6%, respectively.

The U.S. Dollar Index (94.00, +0.39) has gained 0.4% as the euro and the yen show the largest losses against the buck. The euro has lost 0.5% against the dollar (1.1256) while the dollar has gained 0.6% against the safe-haven yen (104.55). Separately, the greenback has ticked higher by 0.1% against the commodity-sensitive Canadian dollar (1.2816).

11:55 am:

[BRIEFING.COM] The major indices have continued to pull back in recent action as the S&P 500 (+0.1%) and the Dow Jones Industrial Average (+0.1%) remain narrowly above their flat lines. The leg lower in the U.S. market corresponded to the close of trade in Europe.

In the consumer discretionary space (-0.3%), influential Netflix (NFLX 91.01, -2.78) demonstrates relative weakness, sliding 3.0%. Other media names underperform with CBS (CBS 53.04, -0.98) and Viacom (VIAB 43.36, -1.49) declining 1.8% and 3.4%, respectively. The two names are likely under pressure after Deutsche Bank commented that a recombination of the companies remains unlikely. Elsewhere, CarMax (KMX 48.93, -1.70) has lost 2.4% after disappointing investors with its quarterly results. The broader SPDR S&P Retail ETF (XRT 41.55, -0.40) trades behind the broader sector, losing 1.0%.

The U.S. Dollar Index (94.00, +0.39) has inched higher with the pound and the euro each losing ground to the dollar. The euro/dollar pair trades lower by 0.5% (1.1258) while the cable has lost 0.2% (1.4667).

11:30 am:

[BRIEFING.COM] The S&P 500 (+0.3%) carved out a fresh session high in recent action, but currently trades three points below that level. Elsewhere, the Dow Jones Industrial Average (+0.2%) leads the Nasdaq Composite (UNCH).

Seven sectors trade in the green with energy (+1.0%) and technology (+0.6%) leading the advance while financials (+0.5%), telecom services (+0.5%), and utilities (+0.5%) follow.

The PHLX Semiconductor Index (+0.3%) has pulled back after being up 0.7% in the early going. In the broader sector, Microsoft (MSFT 51.00, +0.93) outperforms, climbing 1.8%. Elsewhere, Red Hat (RHT 80.32, +1.44) has advanced 1.8% ahead of tomorrow evening's earnings report. Conversely, large cap component Alphabet (GOOG 693.34, -0.37) underperforms the group. The broader sector has lost 2.1% this month, leading only financials (+0.5%; month-to-date: -3.3%) over that time.

On the commodities front, WTI crude trade lower by 1.3% ($49.30/bbl; -$0.55) while gold has trimmed it loss to 1.5% ($1,273.10/ozt, -$19.00).

11:00 am:

[BRIEFING.COM] The S&P 500 (+0.2%) continues to trade in a narrow five-point range as investors listen to the testimony from Fed Chair Yellen.

The central bank head has struck a cautious tone thus far, signaling that global developments and a U.S. hiring slowdown present potential risks to the U.S. economy. Furthermore, Ms. Yellen has maintained that proceeding cautiously in raising the fed funds rate is appropriate while the FOMC continues to assess growth and strength from the broader economy. All in all, Ms. Yellen's prepared remarks have mirrored commentary from last Wednesday's post-FOMC press conference.

The U.S Dollar Index (93.93, +0.32) has pulled back in recent trade as the euro and the pound make up ground against the greenback. The euro/dollar pair trades lower by 0.4% (1.1271) after ticking off the 1.1245 price level. Sterling trades 0.2% lower against the buck at 1.4672.

The Treasury complex has ticked higher in recent action as the yield on the 10-yr note remains down one basis point at 1.68%.

10:30 am: [BRIEFING.COM]

The dollar index trends higher, erasing over half of yesterday's losses, up +0.4% around the 93.97 level, weighing on commodities overall
Commodities, as measured by the Bloomberg Commodity Index, are down -1.2% at 88.39
Crude oil consolidates near its lows of the day, finding solid support just below the $49.00/barrel level and stabilizing here
August crude oil futures are currently down $0.92 (-1.8%) at $49.04/barrel
API data is scheduled to be released after the bell at 4 pm ET.
EIA crude oil inventory data is scheduled to be released at 10:30 am ET tomorrow.
Crude oil futures have changed their front months to August from July, as indicated by the active amount of volume in the contracts.
Monthly IEA data is scheduled to be released Wednesday, July 13th
Natural gas extends yesterday's notable +5% gains further, trading just off of its intra-day high of $2.79/MMBtu
July natural gas futures are currently up $0.03 (+1.0%) at $2.77/MMBtu
Weekly EIA natural gas data is scheduled to be released Thursday at 10:30 am ET.
In precious metals, gold drops to a fresh low of the day as the dollar reverses some of yesterday's losses
August gold futures are currently down $22.00 (-1.7%) at $1270.10/oz
Silver moves in tandem with gold this morning, seeing new lows of the day
July silver futures are down $0.28 (-1.7%) at $17.24/oz
Base metal copper inches lower as the dollar gains momentum in morning pit trading
July copper futures are down $0.01 (-0.5%) at $2.08/lb

10:00 am:

[BRIEFING.COM] The major averages have ticked higher in recent trade as the Nasdaq Composite (+0.2%) remains ahead of the S&P 500 (+0.1%).

Three sectors trade in the green with heavily-weighted technology (+0.7%) leading consumer staples (+0.4%) and financials (+0.2%).

The high-beta chipmakers demonstrate relative strength, evidenced by the 0.4% gain in the PHLX Semiconductor Index. In the group, Micron (MU 12.69, +0.36) leads, jumping 3.0%. Elsewhere, ARM Holdings (ARMH 44.52, +0.52) has climbed 1.2% after announcing that it collaborated on Marvell's (MRVL 10.17, +0.03) ARMADA 8040 network community board.

The U.S. Dollar Index (94.05, +0.44) trades at a session high as the pound, yen, and euro each sport losses against the greenback. Sterling has lost 0.1% against the dollar (1.4674) after slipping from the 1.4780 price level prior in the session. Meanwhile, the dollar has gain 0.5% against the yen (104.45) while the euro/dollar pair trades lower by 0.5% (1.1255).

Fed Chair Yellen is scheduled to deliver testimony before the Senate Banking Committee at 10:00 ET.

9:45 am:

[BRIEFING.COM] The stock market began its day on a higher note with the Nasdaq Composite (+0.3%) leading the Dow Jones Industrial Average (+0.2%) and the S&P 500 (+0.1%).

Five sectors trade in the green with heavily-weighted technology (+0.5%) leading consumer staples (+0.4%). The remaining gainers show upticks between 0.1% (consumer discretionary) and 0.2% (health care). On the flipside, energy (-0.4%) trails countercyclical utilities (-0.4%) and telecom services (-0.2%).

The Dow Jones Transportation Averages (-0.8%) demonstrates relative weakness as railroad, trucking, and transportation service names underperform. In the index, Kirby (KEX 66.26, -3.57) is pressured after being downgraded to "Neutral" from "Outperform" at Credit Suisse.

In the consumer discretionary space (+0.1%) homebuilders outperform after Lennar (LEN 48.08, +1.36) beat estimates for the quarter. The company has jumped 2.9%, compared to a gain of 0.9% in the iShares Dow Jones US Home Construction ETF (ITB 27.73, +0.23).

The Treasury complex trades on a higher note as the yield on the 10-yr note slips two basis points to 1.67%.

9:20 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +10.30.

Futures have moved off their best levels of the morning as the S&P 500 futures trade six points above fair value.

Equity futures pulled back in recent action as investors ruminate over a new Survation Brexit poll. The poll showed that the "Remain" camp leads the "Leave" camp by just one percentage point. In response, the pound briefly erased its gain against the dollar before rebounding just shy of its pre-poll level. The U.S. Dollar Index (93.87, +0.26) trades near its best level of the session as the greenback gains ground against the euro and the yen. The euro/dollar pair trades lower by 0.3% (1.1278) while the dollar has gained 0.6% against the yen (104.55).

The uptick in the dollar has weighed on oil as the energy component trades near its session low. Currently, WTI crude trades lower by 2.0% ($48.97/bbl, -$0.99) after falling from the $49.70/bbl price level overnight. Separately, gold has trimmed its loss to 1.2% ($1,276.80/ozt; -$15.20) as the precious metal sees safe haven inflows.

On the corporate front, United Continental (UAL 44.75, +1.35) trades higher by 3.1% after stating that it expects to drive $3.1 billion in incremental value by 2018. Additionally, the company projected that its passenger revenue per available seat mile will likely fall near the high end of its guidance for the second quarter.

Investors will not receive any noteworthy data today.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +10.80.

The S&P 500 futures trade six points above fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mostly higher note. The overall investor sentiment remained influenced by Brexit-related news and speculation with the latest ORB/Telegraph poll pointing to an edge for the 'Remain' camp. Elsewhere, Japan's Finance Minister Taro Aso said that the threshold for intervention in the foreign exchange market would be high even though rapid moves are undesirable.

In economic data:
Japan's All Industries Activity Index +1.3% month-over-month, as expected (last 0.2%). June Reuters Tankan Index edged up to 3 from 2.
Hong Kong's May CPI +2.6% year-over-year (consensus 2.8%; last 2.7%).
Australia's Q1 House Price Index -0.2% quarter-over-quarter (expected 0.8%; last 0.2%)

---Equity Markets---

Japan's Nikkei spiked 1.3% with nine sectors ending in the green. The advance was paced by health care (+2.1%), consumer staples (+2.0%), and communications (+1.9%) while utilities (-0.1%) lagged. Daiichi Sankyo, Dentsu, Yamaha, Kikkoman, Sumitomo Realty & Development, and Sony gained between 2.4% and 7.9%.
Hong Kong's Hang Seng climbed 0.8%. Belle International spiked 2.9% while energy names like CNOOC and China Petroleum & Chemical added 2.5% and 2.1%, respectively. Financials ICBC, Bank of East Asia, Bank of China, and HSBC posted gains between 0.9% and 2.1%.
China's Shanghai Composite shed 0.4%. China Molybdenum, Aluminum Corp of China, and Shanghai Zi Jiang Enterprise lost between 2.6% and 3.0%.

Major European indices trade mostly higher while UK's FTSE has dipped below its flat line after registering two consecutive gains. The latest on the Brexit front suggested that the 'Remain' camp has a slight edge ahead of Thursday's referendum. Sterling trades flat against the dollar at 1.4693.

In economic data:
Eurozone ZEW Economic Sentiment 20.2 (expected 15.3; last 16.8)
Germany's June ZEW Economic Sentiment 19.2 (expected 4.7; last 6.4) and ZEW Current Conditions 54.5 (consensus 53.0; last 53.1)
UK's CBI Industrial Trends Orders -2 (expected -10; last -8). May Public Sector Net Borrowing GBP9.14 billion (expected GBP9.35 billion; previous GBP7.57 billion)
Swiss May trade surplus CHF3.79 billion (expected CHF2.88 billion; last CHF2.51 billion)

---Equity Markets---

UK's FTSE trades lower by 0.2% as financials show relative strength while miners lag. Aberdeen Asset Management, Barclays, RSA Insurance, Old Mutual, Prudential, and Standard Life are up between 1.2% and 2.0%. On the downside, Anglo American, Randgold Resources, Antofagasta, Glencore, and Fresnillo show losses between 1.4% and 2.2%.
Germany's DAX is higher by 0.4%. Deutsche Bank leads with a 1.6% gain while heavyweights Daimler, Bayer, SAP, and Siemens show gains between 0.9% and 1.1%. Infineon is the weakest performer, down 1.1%.
France's CAC has climbed 0.5% with Schneider Electric and Bouygues in the lead. The two are up near 1.6% while financials BNP Paribas, Credit Agricole, and Societe Generale have gained between 1.3% and 1.4%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: +8.50. Nasdaq futures vs fair value: +18.50.

The S&P 500 futures have ticked lower in recent action, hovering nine points above fair value.

In company specific news, Lennar (LEN 48.01, +1.35) has gained 2.9% in pre-market trading after beating analysts' estimates for the quarter. The company disclosed that its backlog of homes grew 12.0% year-over-year to 9,014 homes. Elsewhere, CarMax (KMX 48.88, -1.75) has slipped 3.5% after missing top- and bottom-line estimates for the quarter. Finally, Adobe Systems (ADBE 99.15, +1.16) has climbed 1.2% ahead of this evening's earnings report.

The U.S. Dollar Index (93.63, +0.02) hovers above its flat line as the greenback makes up ground against the euro and the yen. The euro/dollar pair trades flat (1.1315) after ticking off the 1.1350 level prior in the session. The dollar has gained 0.6% against the safe-haven yen (104.55). Conversely, sterling has gained 0.4% against the buck (1.4743), extending its weekly gain to 2.7%.

On the commodities front, WTI crude trades lower by 1.4% ($49.28/bbl; -$0.68) while gold has fallen 1.4% to $1,274.80/ozt.

8:04 am: [BRIEFING.COM] S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +21.10.

U.S. equity futures hover below overnight highs with the S&P 500 futures trading ten points above fair value. Global bourses maintained their positive bias overnight as participants digested the latest round of Brexit polling data. An ORB poll for the Daily Telegraph showed that the "Remain" camp leads the "Leave" camp ahead of the June 23 referendum. For its part, the pound has continued to strengthen, gaining 0.3% against the buck (1.4737).

On the home front, investors are looking ahead to Fed Chair Yellen's biannual testimony before Congress at 10:00 ET. This is the first speaking opportunity the Fed Chair has had since the FOMC issued its policy statement for June. Ms. Yellen is scheduled to address the Senate Banking Committee today and the House Financial Services Committee tomorrow.

The Treasury complex trades on a higher note with the yield on the 10-yr note slipping one basis point to 1.68%.

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

In U.S. corporate news of note:

Opko Health (OPK 9.87, +0.68): +7.4% after the company confirmed FDA approval for its Rayaldee medication
Ericsson (ERIC 7.93, +0.10): +1.3% following Goldman upgrading the stock to "Neutral" from "Sell"
ARM Holdings (ARMH 44.54, +0.54): +1.2% after announcing that it collaborated on Marvell's (MRVL 10.14, +0.00) ARMADA 8040 network community board
Werner Enterprises (WERN 21.39, -3.29): -13.3% following the company issuing a warning regarding its Q2 earnings

Reviewing overnight developments:

Asia-Pacific markets ended mostly higher with Japan's Nikkei +1.3% and Hong Kong's Hang Seng +0.8% while China's Shanghai Composite shed 0.4%.
In economic data:
Japan's All Industries Activity Index +1.3% month-over-month, as expected (last 0.2%). June Reuters Tankan Index edged up to 3 from 2.
Hong Kong's May CPI +2.6% year-over-year (consensus 2.8%; last 2.7%).
Australia's Q1 House Price Index -0.2% quarter-over-quarter (expected 0.8%; last 0.2%)
In news:
The overall investor sentiment remained influenced by Brexit-related news and speculation with the latest ORB/Telegraph poll pointing to an edge for the 'Remain' camp.
In Japan, Finance Minister Taro Aso said that the threshold for intervention in the foreign exchange market would be high even though rapid moves are undesirable.

European indices trade higher with France's CAC +0.7%, Germany's DAX +0.6%, and the U.K.'s FTSE +0.2%.
In economic data:
Eurozone ZEW Economic Sentiment 20.2 (expected 15.3; last 16.8)
Germany's June ZEW Economic Sentiment 19.2 (expected 4.7; last 6.4) and ZEW Current Conditions 54.5 (consensus 53.0; last 53.1)
UK's CBI Industrial Trends Orders -2 (expected -10; last -8). May Public Sector Net Borrowing GBP9.14 billion (expected GBP9.35 billion; previous GBP7.57 billion)
Swiss May trade surplus CHF3.79 billion (expected CHF2.88 billion; last CHF2.51 billion)
In news:
The latest on the Brexit front suggested that the 'Remain' camp has a slight edge ahead of Thursday's referendum
The pound has continued its recent show of strength in response, gaining 0.3% against the dollar at 1.4737.

6:02 am: [BRIEFING.COM] S&P futures vs fair value: +7.50. Nasdaq futures vs fair value: +14.30.

6:02 am: [BRIEFING.COM] Nikkei...16169...+203.80...+1.30%. Hang Seng...20668...+158.20...+0.80%.

6:02 am: [BRIEFING.COM] FTSE...6185.35...-18.70...-0.30%. DAX...9957.81...-4.20...0.00%.

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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