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 Post subject: June 23rd Thursday Trade Results - Profit $3,125.00
PostPosted: Fri Jun 24, 2016 6:23 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 @ $3,125.00 dollars or +62.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $3,125.00 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=2393

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


4:10 pm: [BRIEFING.COM] U.S. equity markets ended the Thursday affair broadly higher, discounting the probability of a "Leave" vote in today's Brexit referendum. Additional focal points impacting today's trade included support from the oil pit, softening in the dollar, and leadership from the heavily-weighted financial (+2.1%) and technology (+1.5%) sectors. The Nasdaq Composite (+1.6%) ended its day ahead of the S&P 500 (+1.3%) and the Dow Jones Industrial Average (+1.3%).

The major averages began the day on a higher note as investors weighed a rally in global bourses. European indices extended their recent winning streak as the final round of preliminary Brexit polls indicated that the "Remain" group held a lead over the "Leave" camp in today's highly anticipated Brexit vote. In response, investors adopted a risk-on posture while safe haven assets extended their recent losing streak.

The benchmark index gapped higher at the beginning of the session, climbing above technical and psychological resistance at the 2100 area. The S&P 500 (+1.3%) extended its opening advance in the early afternoon as the heavyweight financial (+2.1%) and technology (+1.5%) groups bolstered a move higher in the broader market. Additionally, WTI crude lifted the broader market as it finished higher by 2.0% ($50.12/bbl; +$1.00), extending its weekly gain to 4.4%.

The S&P 500 (+1.3%) extended its advance in the final hour of trade, finishing the day at a freshly minted session high (2113.32). All ten sectors finished in the green with the economically-sensitive financial (+2.1%) sector leading energy (+1.7%) and materials (+1.6%). The remaining cyclical sectors posted gains between 0.9% (consumer discretionary) and 1.5% (technology) while countercyclical utilities (+0.3%) ended at the bottom of the board.

The financial sector (+2.1%) rebounded alongside European banking names as the group responded to shifting expectations regarding the probability of a Brexit. On the home front, life insurance names and investment brokerages finished with the largest gains as Prudential (PRU 76.95, +2.92) and Charles Schwab (SCHW 29.69, +1.35) gained 3.9% and 4.8%, respectively. Meanwhile, Bank of America (BAC 14.04, +0.43) and Citigroup (C 44.46, +1.78) outperformed ahead of results from the latest supervisory stress tests. On a side note, the banking names will not receive approval to bolster their capital return programs until the Federal Reserve releases results from its Comprehensive Capital Analysis and Review after the close on June 29.

The PHLX Semiconductor Index (+2.6%) outperformed the broader technology space (+1.5%) as Micron (MU 14.05, +1.33) rallied 10.5%. The company benefited from upgrades to "Buy" and "Positive" at Nomura and Susquehanna, respectively. Elsewhere, software names outperformed with Adobe Systems (ADBE 96.21, +2.20) rebounding 2.3%. Conversely, Red Hat (RHT 78.39, -1.36) was under pressure after disappointing investors with its mixed outlook.

Biotechnology outperformed in the health care space (+1.3%), evidenced by the 2.2% gain in the iShares Nasdaq Biotechnology ETF (IBB 262.10, +5.54). The sub-group was likely benefiting from yesterday's positive ruling regarding Medicare spending. On the flipside, Humana (HUM 187.31, -0.36) lost 0.2% after the California Department of Insurance voiced concerns regarding the company's proposed merger with Aetna (AET 121.00, +0.84).

The U.S. Dollar Index (93.38, -0.34) ended lower as the greenback lost ground to the euro and the pound. The single currency gained 0.7% against the buck (1.1372) while the cable gained 1.2% (1.4891). Separately, the dollar climbed 1.5% against the yen (105.93) as safe haven assets remained pressured.

The Treasury complex retreated today as the yield on the 10-yr note rose five basis points to 1.74%.

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

Today's economic data included weekly initial claims, New Home Sales for May, and BC Leading Indicators for May:

Initial claims for the week ending June 18 fell by 18,000 from the prior week to 259,000 (Briefing.com consensus 273,000)
The four-week moving average dipped by 2,250 to 267,000.
There were no special factors influencing the initial claims reading, which held below 300,000 for the 68th straight week.
Continuing claims for the week ending June 11 decreased by 20,000 to 2.142 million.
With that reading, the four-week moving average for continuing claims decreased by 4,500 to 2.147 million.
New home sales declined 6.0% month-over-month in May to a seasonally adjusted annual rate of 551,000 (Briefing.com consensus 560,000) from a downwardly revised 586,000 (from 619,000) in April.
Despite the monthly sales drop, new home sales in May were 8.7% above the same period a year ago.
The downturn in May featured a 33.3% decline in sales in the Northeast, although every region experienced a sales drop with the exception of the Midwest (+12.9%).
Notably, the South and the West -- the two biggest regions for new home sales -- saw sales decline 0.9% and 15.6%, respectively.
The median sales price of a new home increased 1.0% year-over-year to $290,400.
With the slower sales pace in May, the inventory of new homes for sale jumped to a 5.3-month supply from 4.9 months in April.
The Conference Board reported a 0.2% decline in its Leading Economic Index for May.
That was well below the Briefing.com consensus estimate, which called for a 0.2% increase, and it followed on the heels of two consecutive monthly gains.
In the six-month period ending May 2016, the leading economic index was flat after increasing 1.2% during the previous six months.
The Conference Board added that the weakness among the leading indicators has become somewhat more widespread than the strengths in recent months.
The decline in May was led by average weekly initial claims, which subtracted 0.23 percentage points, offsetting gains in six other components.
The strongest of those gains was the interest rate spread, which added 0.16 percentage points to the index.
The Conference Board estimated small positive contributions for manufacturers' new orders for:
Consumers goods and materials (+0.01 percentage points) and nondefense capital goods orders excluding aircraft (+0.02 percentage points).
Separately, the Coincident Index was unchanged in May while the Lagging Economic Index increased 0.3%.

Tomorrow's economic data includes Durable Orders for May (Briefing.com consensus -0.6%) and the final reading of Michigan Consumer Sentiment for May (Briefing.com consensus 94.0), which will cross the wires at 8:30 ET and 10:00 ET, respectively.

S&P 500 +3.4% YTD
Dow Jones +3.4% YTD
Russell 2000 +3.0% YTD
Nasdaq Composite -1.9% YTD

3:30 pm: [BRIEFING.COM]

The dollar index recovers half of this morning's losses, currently down -0.2% around the 93.54 level, aiding select commodities
Commodities, as measured by the Bloomberg Commodity Index, are up +0.3% at 88.35
Crude oil closes near its year-to-date highs, breaking above the $50/barrel resistance in afternoon pit trading
August crude oil futures rose $1.00 (+2.0%) to $50.12/barrel
Baker Hughes rig data is scheduled to be released tomorrow at 12:00 pm ET
Monthly IEA data is scheduled to be released on July 13
Natural gas breaks above afternoon resistance after an initial decline post-EIA data, which showed a larger-than-expected build compared to Consensus
July natural gas closed $0.02 higher (+0.8%) at $2.69/MMBtu
Working gas in storage was 3,103 Bcf as of Friday, June 17, 2016, according to EIA estimates
Stocks were 618 Bcf higher than last year at this time and 678 Bcf above the five-year average of 2,425 Bcf
Natural gas inventory showed a build of +62 bcf vs expectations for inventory to be a build of approximately +58 bcf
At 3,103 Bcf, total working gas is above the five-year historical range
In precious metals, gold sees a modest downtrend as the dollar recovers some of its morning losses, ending lower on the day
August gold ended today's session down $6.70 (-0.5%) to $1263.10/oz
Silver trades near parity with the previous day's close
July silver closed today's session $0.03 higher (+0.2%) at $17.35/oz
Base metal copper trades to a 6-week high in afternoon pit trading
July copper closed $0.03 higher (+1.4%) at $2.16/lb

3:00 pm:

[BRIEFING.COM] As the stock market approaches its final hour of trade, the tech-heavy Nasdaq Composite (+1.3%) remains ahead of the S&P 500 (+1.0%) and the Dow Jones Industrial Average (+1.0%).

All ten sectors trade above their flat lines with health care (+1.0%) and technology (+1.2%) trailing commodity-sensitive energy (+1.4%) and materials (+1.5%). Separately, financials (+1.7%) lead, trimming their monthly loss to 1.7%.

The Dow Jones Transportation Average (+0.7%) trades behind the broader market as airlines underperform. The U.S. Global Jets ETF (JETS 22.00, +0.04) floats higher by 0.2% after Southwest Airlines (LUV 39.21, -1.04) disappointed with its outlook. The company projected that its 2017 and 2018 growth will be less than its growth rate in 2016.

The Treasury complex has retreated today with the yield on the 10-yr note rising five basis points to 1.73%. Safe-haven utilities have also been under pressure, struggling to remain on the positive side of their flat line. However, the group has gained 16.0% in 2016, trailing only telecom services (+1.0%; year-to-date: +18.5%) over that time.

WTI crude ended its pit session higher by 2.0% ($50.12/bbl; +$1.00), extending its 2016 gain to 36.0%.

2:30 pm:

[BRIEFING.COM] The major indices have floated sideways since the last update as the S&P 500 (+0.9%) trades in-line with the Dow Jones Industrial Average (+0.9%).

The commodity-sensitive energy sector (+1.1%) has inched higher in recent trade as it follows materials (+1.5%) and financials (+1.6%) on the leaderboard. The leg higher in the group corresponded with an uptick in crude oil. Currently, WTI crude trades higher by 1.5% ($49.85/bbl; +$0.72) ahead of its pit session close at 14:30 ET.

In the energy space (+1.1%), energy service names outperform with Halliburton (HAL 45.66, +1.00) gaining 2.3%. Conversely, Dow component Exxon Mobil (XOM 91.33, +0.16) underperforms the price-weighted index. The broader energy sector has gained 2.5% this week, trailing only financials (+1.7%; week-to-date: +2.7%). Investors will receive the latest Baker Hughes Rig Count tomorrow at 13:05 ET.

The U.S. Dollar Index (93.52, -0.20) hovers below a session high as the greenback trims its loss against the loonie. The dollar/Canadian dollar pair trades lower by 0.4% (1.2790) after ticking off the 1.2740 price level in the late morning.

2:00 pm:

[BRIEFING.COM] The S&P 500 (+0.9%) has floated lower in recent trade, hovering four points off its best level of the day. Elsewhere, the Nasdaq Composite (+1.1%) outperforms amid strength in technology and biotechnology.

The health care sector (+0.8%) trades behind the broader market as Humana (HUM 187.46, -0.21) underperforms. The insurance name has been pressured in recent trade, responding to reports that the California Department of Insurance (DoI) has come out against its proposed merger with Aetna (AET 120.39, +0.23). In a letter to the Department of Justice, Dave Jones, commissioner of the California DoI, formally recommended that the merger be blocked. Commissioner Jones cited that the combination of the two insurers would substantially diminish competition.

On the flipside, biotechnology continues to demonstrate relative strength after Medicare and Medicaid Services reported yesterday that spending levels did not trigger cost cutting provisions. Currently, the iShares Nasdaq Biotechnology ETF (IBB 260.62, +4.06) trades higher by 1.6%.

On the commodities front, gold ended its pit session lower by 0.5% ($1,263.10/ozt; -$6.70), extending its weekly decline to 2.5%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices continue to hold strong gains in afternoon trading as investors speculate Britain will fail to garner sufficient support to leave the EU.

A look inside the Down Jones Industrial Average shows that Goldman Sachs (GS 152.39, +4.25), JPMorgan (JPM 64.07, +1.35), and American Express (AXP 63.19, +1.24) are outperforming as financials rally ahead of the results of the BREXIT vote.

Conversely, Nike (NKE 54.19, -0.38) is the worst-performing and lone Dow component in negative territory.

At current levels, the DJIA is up 1.5% this week.

1:05 pm:

[BRIEFING.COM] The stock market trades on a broadly higher note at midday, gaining traction as European indices extend their winning streak to a fifth straight session. The broad-based rally in Europe occurred as polls in Britain opened for the country's referendum on membership in the European Union. Other contributing factors for today's gain have included the outperformance of the heavily-weighted financial (+1.7%), technology, (+1.0%), and industrial (+0.9%) sectors. At midday, the Nasdaq Composite (+1.2%) trades ahead of the S&P 500 (+0.9%) and the Dow Jones Industrial Average (+0.9%).

Today's session began on a higher note as U.S. equity futures traded higher lockstep with European bourses. Equity indices in the region displayed a bullish bias as investors responded to the final round of preliminary Brexit polls. The polling data indicated that the "Remain" camp leads the "Leave" faction. As a result, risk assets received a bid with a rally in the pound leading the move. Cable notched a new six-month high overnight, climbing to the 1.4950 price level.

The S&P 500 (+0.9%) climbed above the 2100 price level in the opening gap higher, extending its advance as investors discounted the likelihood of a potential Brexit. Additionally, sector leadership from the heavily-weighted financial (+1.7%), technology, (+1.0%), and industrial (+0.9%) sectors has helped buttress the move higher. At midday, the benchmark index trades three points off its session high (2107.76) with nine sectors trading in the green. For its part, WTI crude trades higher by 0.8% ($49.53/bbl; +$0.40).

The economically-sensitive financial sector (+1.7%) demonstrates broad-based strength as the space rallies alongside European banking names. On that note, Credit Suisse (CS 13.69, +0.57) and Deutsche Bank (DB 17.74, +0.87) have jumped 4.4% and 5.1%, respectively. In the sector, Dow component Goldman Sachs (GS 152.02, +3.88) leads the price-weighted index. Furthermore, Citigroup (C 44.30, +1.62) leads the money center banks ahead of this evening's results from the latest round of stress tests. The Fed will release its Comprehensive Capital Analysis and Review (CCAR) results on June 29.

In the technology sector (+1.0%), the high-beta chipmakers demonstrate relative strength, evidenced by the 2.0% gain in the PHLX Semiconductor Index. In the group, Micron (MU 13.84, +1.12) has rallied 8.8% after receiving an upgrade to "Buy" at Nomura. In the broader sector, data storage names outperform with Western Digital (WDC 50.87, +2.52) gaining 5.2%. Conversely, Red Hat (RHT 77.82, -1.93) has declined 2.4% after disappointing participants with its mixed outlook. On the IPO front, Twilio (TWLO 25.55, +10.55) has spiked 70.4% after pricing its IPO at $15 overnight.

The industrial sector (+0.9%) outperforms as Dow components Boeing (BA 132.79, +1.00) and Caterpillar (CAT 77.78, +1.35) gain 0.9% and 1.8%, respectively. Boeing leads after receiving an "Overweight" designation and a price target of $153 at Morgan Stanley. On the flipside, the Dow Jones Transportation Average (+0.8%) underperforms the sector and broader market.

The U.S. Dollar Index (93.45, -0.26) floats below its best level of the day as the pound and commodity currencies gain against the buck. The dollar/Canadian dollar pair trades lower by 0.5% (1.2784) after ticking off the 1.2680 price level overnight. Separately, sterling has gained 0.7% against the buck (1.4813).

The Treasury complex trades off its low, but the yield on the 10-yr note remains higher by four basis points at 1.73%.

Today's economic data included weekly initial claims, New Home Sales for May, and Leading Indicators for May:

Initial claims for the week ending June 18 fell by 18,000 from the prior week to 259,000 (Briefing.com consensus 273,000)
The four-week moving average dipped by 2,250 to 267,000.
There were no special factors influencing the initial claims reading, which held below 300,000 for the 68th straight week.
Continuing claims for the week ending June 11 decreased by 20,000 to 2.142 million.
With that reading, the four-week moving average for continuing claims decreased by 4,500 to 2.147 million.
New home sales declined 6.0% month-over-month in May to a seasonally adjusted annual rate of 551,000 (Briefing.com consensus 560,000) from a downwardly revised 586,000 (from 619,000) in April.
Despite the monthly sales drop, new home sales in May were 8.7% above the same period a year ago.
The downturn in May featured a 33.3% decline in sales in the Northeast, although every region experienced a sales drop with the exception of the Midwest (+12.9%).
Notably, the South and the West -- the two biggest regions for new home sales -- saw sales decline 0.9% and 15.6%, respectively.
The median sales price of a new home increased 1.0% year-over-year to $290,400.
With the slower sales pace in May, the inventory of new homes for sale jumped to a 5.3-month supply from 4.9 months in April.
The Conference Board reported a 0.2% decline in its Leading Economic Index for May.
That was well below the Briefing.com consensus estimate, which called for a 0.2% increase, and it followed on the heels of two consecutive monthly gains.
In the six-month period ending May 2016, the leading economic index was flat after increasing 1.2% during the previous six months.
The Conference Board added that the weakness among the leading indicators has become somewhat more widespread than the strengths in recent months.
The decline in May was led by average weekly initial claims, which subtracted 0.23 percentage points, offsetting gains in six other components.
The strongest of those gains was the interest rate spread, which added 0.16 percentage points to the index.
The Conference Board estimated small positive contributions for manufacturers' new orders for:
Consumers goods and materials (+0.01 percentage points) and nondefense capital goods orders excluding aircraft (+0.02 percentage points).
Separately, the Coincident Index was unchanged in May while the Lagging Economic Index increased 0.3%.

12:30 pm:

[BRIEFING.COM] The S&P 500 (+1.0%) has pulled back in recent action, trading one point off its session high. Elsewhere, the domestic-facing Russell 2000 (+1.7%) outperforms ahead of tomorrow's rebalancing.

In front of the pack, heavily-weighted financials (+1.7%) lead materials (+1.4%) and energy (+1.2%). The remaining cyclical sectors sport gains in the range of 1.0% while countercyclical utilities (-0.1%) round out the leaderboard.

In the industrial sector (+1.0%), Dow component Boeing (BA 134.25, +2.48) has gained 1.7% after Morgan Stanley initiated coverage on the stock, issuing an "Overweight" designation. Separately, diversified machine names outperform with Cummins (CMI 117.72, +1.94) and Rockwell Automation (ROK 120.02, +2.03) climbing 1.7% apiece. The space is likely seeing a boost from a weaker dollar, which could foster a rebound in sales and earnings prospects. The broader sector has gained 1.7% this month, compared with an uptick of 0.5% in the benchmark index. At the same time, the U.S. Dollar Index (93.46, -0.26) has declined 2.5% since the end of May.

The CBOE Volatility Index (17.99, -3.18) trades off its session low, declining 15.0% so far today. For its part, the Treasury complex continues to trade lower with the yield on the 10-yr note rising four basis points to 1.73%.

12:00 pm:

[BRIEFING.COM] The major averages have notched new session highs as the S&P 500 (+1.0%) trades in-line with the Dow Jones Industrial Average (+1.0%). The two indices have extended their weekly gains to 0.5% and 1.0%, respectively.

The consumer discretionary space (+0.9%) trades near a session high as retail names outperform. The SPDR S&P Retail ETF (XRT 42.05, +0.63) has gained 1.5% amid strength in components Macy's (M 33.80, +0.99) and Barnes & Noble (BKS 11.29, +0.85). Macy's outperforms after CEO Terry Lundgren stated that Jeff Gennette would be transitioned into the role beginning in the first quarter of 2017. Elsewhere, Barnes & Noble has surged 8.1% after the company issued a better-than-feared comparable sales outlook.

Conversely, Viacom (VIAB 43.57, -0.44) has declined by 1.0% after Needham cut its quarterly estimates for the company following last week's earnings warning.

On the commodities front, WTI crude has trimmed its gain, showing an uptick of 0.5% ($49.35/bbl; +$0.22). Elsewhere, gold trades lower by 0.2% ($1,267.30/ozt; -$2.70).

11:30 am:

[BRIEFING.COM] The major indices float near fresh session highs as the Nasdaq Composite (+1.1%) leads the S&P 500 (+1.0%).

The high-beta chipmakers demonstrate relative strength, evidenced by the 1.9% gain in the PHLX Semiconductor Index. In the index, Micron (MU 13.87, +1.15) has spiked 9.0% after being upgraded to "Buy" from "Reduce" at Nomura. The index has gained 3.3% this week, compared to a gain of 1.7% in the broader tech sector.

In the technology sector (+0.9%), Twilio (TWLO 25.55, +10.55) has surged 70.3% after pricing its IPO at $15 overnight. Elsewhere, Red Hat (RHT 76.72, -3.03) has fallen 3.9% after the company issued mixed guidance.

The U.S. Dollar Index (93.43, -0.28) has climbed off its session low as the single currency trims its gain against the greenback. The euro/dollar pair trades higher by 0.5% (1.1358) after sliding from the 1.1390 level at the start of the session. Elsewhere, cable has trimmed its gain to 0.6% against the dollar (1.4795).

11:00 am:

[BRIEFING.COM] The major averages have inched higher since our last update as the Nasdaq Composite (+0.9%) leads the S&P 500 (+0.8%) and the Dow Jones Industrial Average (+0.8%).

The financial sector (+1.5%) outperforms as the market continues discounting the likelihood of a "Brexit." As a result, money center banks, asset management companies, and life insurance names currently outperform alongside European banks.

On the home front, Dow component Goldman Sachs (GS 151.75, +3.61) tops the price-weighted index while Bank of America (BAC 13.94, +0.33) and Citigroup (C 44.00, +1.32) have gained 2.5% and 3.1%, respectively.

On a side note, the banking group could be seeing some added buying interest as investors look ahead to this evening's results from the most recent stress test. Positive marks could lead to speculation regarding a possible increase in dividend levels or share repurchases. However, the Fed will release results from its Comprehensive Capital Analysis and Review (CCAR) on June 29.

The Treasury complex has ticked off its low, but the yield on the 10-yr note remains higher by three basis points at 1.71%.

10:50 am: [BRIEFING.COM]

The dollar index extends yesterday's losses, down -0.4% around the 93.35 level, not appearing to affect commodities overall
Commodities, as measured by the Bloomberg Commodity Index, are flat at 88.01
Crude oil recovers last session's losses seen after yesterday's EIA petroleum data, trading just under the $50/barrel level
July crude oil futures are up $0.65 (+1.3%) at $49.76/barrel
Natural gas plummets following EIA storage data showing a larger-than-expected build compared to Consensus
July natural gas futures are down $0.03 (-1.2%) at $2.64/MMBtu
Working gas in storage was 3,103 Bcf as of Friday, June 17, 2016, according to EIA estimates
Stocks were 618 Bcf higher than last year at this time and 678 Bcf above the five-year average of 2,425 Bcf
At 3,103 Bcf, total working gas is above the five-year historical range
Natural gas inventory showed a build of +62 bcf vs expectations for inventory to be a build of approximately +58 bcf
Before the data was released, natural gas was trading down $0.01 (-0.2%) at $2.67/MMBtu
In precious metals, gold drifts lower despite a drop in the dollar index ahead of the "Brexit Vote"
August gold futures are down $4.50 (-0.4%) at $1265.50/oz
Silver inches slightly into the green territory in morning pit trading as the dollar index falls
July silver futures are up $0.04 (+0.2%)
Base metal copper sees a continuation rally in morning pit trading
July copper futures are up $0.02 (+0.9%) at $2.16/lb

10:00 am:

[BRIEFING.COM] The major averages have pulled back in recent action as the S&P 500 (+0.7%) trades three points off its best level of the day, slipping below the psychological 2100 price level.

Just released, New Home Sales in May hit an annualized rate of 551,000, which was below the revised April rate of 586,000 (from 619,000), and less than the 560,000 that was expected by the Briefing.com consensus.

Separately, the CB Leading Indicators report for May was lower by 0.2% (Briefing.com consensus +0.2%) from an unrevised April reading of 0.6%.

The U.S. Dollar Index (93.38, -0.33) has ticked higher in recent action as the buck trims its loss against the euro. The euro/dollar pair trades higher by 0.7% (1.1374) after ticking off the 1.1390 level at the beginning of the session. Separately, the greenback has gained 1.3% against the yen (105.70).

9:45 am:

[BRIEFING.COM] As expected, the stock market opened its day on a higher note with the Dow Jones Industrial Average (+0.9%) leading the S&P 500 (+0.8%) and the Nasdaq Composite (+0.7%). The benchmark index currently maintains its footing above the psychological 2100 price level.

Nine sectors opened in the green with heavily-weighted financials (+1.4%) leading materials (+1.1%) and industrials (+1.0%). The remaining gainers show upticks between 0.4% (consumer staples) and 0.9% (energy). Conversely, countercyclical utilities (UNCH) shows the only loss.

The economically-sensitive financial sector (+1.4%) demonstrates broad-based strength as the group outperforms alongside European banking names. On the home front, life insurance names and asset management companies show the largest gains with Franklin Resources (BEN 34.46, +0.72) and MetLife (MET 43.57, +1.02) climbing 2.2% and 2.4%, respectively.

Separately, heavily-weighted component Alphabet (GOOG 688.45, -9.01) weighs on the technology sub-group after having its target price lowered to $830 from $950 as Evercore ISI. However, the firm maintained its "Buy" rating on the stock.

On the commodities front, WTI crude trades higher by 1.2% ($49.75/bbl; +$0.62) while gold trades lower by 0.4% ($1,265.10/ozt; -$4.90).

9:12 am: [BRIEFING.COM] S&P futures vs fair value: +18.80. Nasdaq futures vs fair value: +39.00.

Futures signal a higher start to the trading day as the S&P 500 futures trade 19 points above fair value.

Global bourses trade broadly higher as investors set their sights on the outcome of the U.K.'s referendum regarding membership in the European Union. The final polls indicated an edge for the "Remain" camp, spurring a bid in sterling. The pound/dollar pair trades higher by 1.2% (1.4880) after notching a six-month high (1.4947) earlier in the session. The presumption that the country will vote to retain its membership in the EU has led to a bid in risk assets while safe havens have remained pressured. On that note, the commodity complex trades on a mixed note with oil gaining 1.3% ($49.78/bbl; +$0.65) while gold trades lower by 0.5% ($1,263.50/ozt; -$6.50). Official results from the vote are expected to cross the wires early Friday morning.

In company specific news, Home Depot (HD 128.46, +0.86) has gained 0.7% after being upgraded to "Buy" from "Neutral" at Nomura. The firm cited improvement in the overall market for the upgrade, but maintained its price target of $155. BlackBerry (BBRY 6.98, 0.24) has gained 3.6% after reporting a bottom-line beat on light revenue. The company raised its earnings outlook above consensus. Finally, Dow component Boeing (BA 133.49, +1.72) has risen 1.3% in pre-market after Morgan Stanley initiated coverage on the stock with an "Overweight" rating and a price target of $153.

Today's economic data will be capped off with New Home Sales for May (Briefing.com consensus 560k) and Leading Indicators for May (Briefing.com consensus 0.2%), which will both cross the wires at 10:00 ET.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +19.30. Nasdaq futures vs fair value: +40.10.

The S&P 500 futures trade 19 points above fair value.

Equity indices in the Asia-Pacific region ended Thursday on a mixed note with Japan's Nikkei (+1.1%) outperforming. The index climbed even though economic data from the country disappointed. For its part, the yen was little changed against the dollar overnight, but the currency has retreated this morning, sending the dollar/yen pair higher by 1.2% to 105.70.

In economic data:
Japan's June Manufacturing PMI 47.8 (expected 48.2; last 47.7) and Leading Index 100.0 (expected 100.5; last 100.5)
Singapore's May CPI -1.6% year-over-year (consensus -0.8%; last -0.5%)

---Equity Markets---

Japan's Nikkei climbed 1.1% with eight sectors registering gains. Industrials (+2.3%), financials (+1.8%), and consumer discretionary (+1.6%) outperformed while consumer staples (-0.2%) and health care (unch) lagged. JFE Holdings, Hino Motors, Mazda Motor, Fast Retailing, Fanuc, and Mitsubishi gained between 3.2% and 5.6%.
Hong Kong's Hang Seng added 0.4%. Gaming names and financials paced the advance with Sands China, ICBC, Bank of East Asia, Galaxy Entertainment, and HSBC advancing between 1.0% and 1.9%.
China's Shanghai Composite lost 0.6%. Aluminum Corp of China shed 0.5%, Shanghai Zi Jiang Enterprise fell 1.8%, and Sichuan Expressway tumbled the limit, 10.0%.

Major European indices trade higher across the board with Italy's MIB (+2.8%) in the lead. Region-wide equities have shown strength after the final set of Brexit polls indicated a big edge for the 'Remain' camp. The referendum is underway and early results are expected to make the rounds late this evening. The pound has climbed 1.2% against the dollar to 1.4890.

In economic data:
Eurozone June Manufacturing PMI 52.6 (expected 51.3; last 51.5) and Services PMI 52.4 (expected 53.1; last 53.3)
Germany's June Manufacturing PMI 54.4 (consensus 52.0; previous 52.1) and Services PMI 53.2 (consensus 55.0; last 55.2)
France's June Manufacturing PMI 47.9 (consensus 48.8; last 48.4) and Services PMI 49.9 (expected 51.7; last 51.6). Separately June Business Survey 102 (expected 103; last 104)
Italy's April Industrial New Orders -11.3% year-over-year (last 0.1%)

---Equity Markets---

UK's FTSE has climbed 1.0% with consumer names and financials in the lead. Sports Direct, InterContinental Hotels, Prudential, RBS, and Barclays are up between 2.2% and 3.8%.
Germany's DAX trades up 1.3% with utilities and financials pacing the advance. RWE and E.ON hold respective gains of 4.9% and 4.0% while Deutsche Bank and Commerzbank are up 3.7% and 3.1%, respectively. Exporters Volkswagen, BMW, and Daimler have gained between 1.6% and 2.5%.
France's CAC has rallied 1.7% amid broad strength. ArcelorMittal has surged 5.2% while financials Societe Generale, Credit Agricole, and BNP Paribas show gains between 2.9% and 4.0%.
Italy's MIB has surged 2.8%. Bank shares have been at the forefront of the rally with Banca di Milano Scarl, UBI Banca, Banco Popolare, Mediobanca, Banca Pop Emilia Romagna, and Unicredit soaring between 4.5% and 6.4%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +19.90. Nasdaq futures vs fair value: +39.50.

Futures have ticked higher in recent action with the S&P 500 futures trading 20 points above fair value.

The latest weekly initial jobless claims count totaled 259,000 while the Briefing.com consensus expected a reading of 273,000. Today's tally was below the unrevised prior week's count of 277,000. As for continuing claims, they fell to 2.142 million from 2.162 million.

The U.S. Dollar Index (93.19, -0.52) floats above its overnight low as the pound and commodity currencies trim their advance against the buck. The dollar/Canadian dollar pair trades lower by 0.8% (1.2738) after ticking off the 1.2680 price level overnight. Separately, sterling has gained 1.2% against the buck (1.4890), notching a six-month high at 1.4947.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: +17.80. Nasdaq futures vs fair value: +37.50.

U.S. equity futures float below overnight highs with the S&P 500 futures trading 18 points above fair value. Investors adopted a risk-on posture as voting gets underway in the U.K.'s referendum on EU membership. The final polls indicated a lead for the "Remain" camp while official results from the vote will begin rolling in late this evening. Global bourses have exhibited a positive bias with European regional indices leading the advance. On the flipside, safe haven assets have been pressured with Treasuries, gold, and the yen each retreating.

The Treasury complex trades lower with the yield on the 10-yr note rising four basis points to 1.73%.

On the economic front, data will include weekly initial claims (Briefing.com consensus 273k), which will cross the wires at 8:30 ET. Separately, New Home Sales for May (Briefing.com consensus 560k) and CB Leading Indicators for May (Briefing.com consensus 0.2%) will both be released at 10:00 ET.

In U.S. corporate news of note:

Bed Bath & Beyond (BBBY 41.45, -1.73): -4.0% after missing analysts' estimates for Q1 and lowering its FY17 earnings guidance
Red Hat (RHT 75.37, -4.38): -5.5% following the company reporting in-line results for the quarter and discussing the impact of its 3scale acquisition
Twitter (TWTR 16.30, +0.17): +1.1% after reports indicated that the social media giant is looking to sell ads during the NFL games it streams
Micron (MU 13.39, +0.67): +5.3% following the stock receiving upgrades at Nomura and Susquehanna to "Buy" and "Positive," respectively

Reviewing overnight developments:

Asia-Pacific indices ended Thursday mixed with Japan's Nikkei +1.1%, Hong Kong's Hang Seng +0.4%, and China's Shanghai Composite -0.6%.
In economic data:
Japan's June Manufacturing PMI 47.8 (expected 48.2; last 47.7) and Leading Index 100.0 (expected 100.5; last 100.5)
Singapore's May CPI -1.6% year-over-year (consensus -0.8%; last -0.5%)
In news:
Japan's Nikkei (+1.1%) outperformed despite disappointing economic data.
For its part, the yen has retreated this morning, sending the dollar/yen pair higher by 1.2% to 105.70.

European indices trade higher with France's CAC +1.8%, Germany's DAX +1.7%, and the U.K.'s FTSE +1.1%. Elsewhere, Italy's MIB (+2.9%) leads the advance.
In economic data:
Eurozone June Manufacturing PMI 52.6 (expected 51.3; last 51.5) and Services PMI 52.4 (expected 53.1; last 53.3)
Germany's June Manufacturing PMI 54.4 (consensus 52.0; previous 52.1) and Services PMI 53.2 (consensus 55.0; last 55.2)
France's June Manufacturing PMI 47.9 (consensus 48.8; last 48.4) and Services PMI 49.9 (expected 51.7; last 51.6). Separately June Business Survey 102 (expected 103; last 104)
Italy's April Industrial New Orders -11.3% year-over-year (last 0.1%)
In news:
Region-wide equities have shown strength after the final set of Brexit polls indicated a big edge for the 'Remain' camp.
The referendum is underway and early results are expected to make the rounds late this evening.
The pound has climbed 1.1% against the dollar to 1.4875.

5:56 am: [BRIEFING.COM] S&P futures vs fair value: +20.00. Nasdaq futures vs fair value: +46.30.

5:56 am: [BRIEFING.COM] Nikkei...16238...+172.60...+1.10%. Hang Seng...20868...+73.20...+0.40%.

5:56 am: [BRIEFING.COM] FTSE...6353.39...+92.20...+1.50%. DAX...10276.95...+205.90...+2.00%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Image@ http://twitter.com/wrbtrader Image@ http://stocktwits.com/wrbtrader

http://www.thestrategylab.com
Phone: +1 708 572-4885
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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