TheStrategyLab.com Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods
It is currently Wed Mar 29, 2017 2:03 pm

All times are UTC - 5 hours




Post new topic Reply to topic Bookmark and Share  [ 1 post ] 
Author Message
 Post subject: July 27th Wednesday Trade Results - Profit $4437.50
PostPosted: Wed Jul 27, 2016 8:44 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 1:06 pm
Posts: 2804
Location: Canada
Image

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://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)

Disclaimer: Today's trading performance is not an indication of my future performance and not an indication of the future performance for any trader that decides to learn/apply WRB Analysis.

Attachment:
072716-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+4437.50.png
072716-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+4437.50.png [ 93.61 KiB | Viewed 61 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $4437.50 dollars or +88.75 points, Light Crude Oil CL ($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 @ $4437.50 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. You can read today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) 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=158&t=2419

The free chat room is not a signal calling trading room. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of 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. Also, you can use the free chat room to ask real-time WRB Analysis questions. Yet, 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 trading 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=296&t=3207 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 PnL 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.

Attachment:
072716-Key-Price-Action-Markets.png
072716-Key-Price-Action-Markets.png [ 1.03 MiB | Viewed 32 times ]

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


4:15 pm: [BRIEFING.COM] The stock market ended Wednesday on a mixed note, responding to a positive bottom-line reading from top-weighted Apple (AAPL 103.03, +6.36) and the latest policy statement from the Federal Open Market Committee. Other contributing factors impacting today's trade included weakness from the oil patch, softening in the dollar, and the outperformance of the heavily-weighted health care (+0.4%) and technology (+0.8%) sectors. The Nasdaq Composite (+0.6%) ended ahead of the Dow Jones Industrial Average (UNCH) and the S&P 500 (-0.1%).

Equity indices gained at the start of the session as investors responded to better-than-expected quarterly results from Apple (AAPL 103.03, +6.36) and further easing measures from Japan. Top-weighted Apple boosted the influential technology sector (+0.8%) after reporting above-consensus bottom-line results and issuing better-than-expected guidance for the fourth quarter. Separately, Japan's Nikkei (+1.7%) paced the advance overseas after Prime Minister Shinzo Abe unveiled a fiscal stimulus package totaling JPY28 trillion. The terms of the stimulus package are expected to be compiled next month, but there are doubts about how much direct stimulus will be involved.

The major averages pulled back from their opening highs shortly after the release of a disappointing weekly inventory report from the Department of Energy. The report showed a surprise increase in crude oil inventories (+1.67 million barrels; estimated: -2.25 million barrels) while gasoline stockpiles (+0.45 million barrels; consensus +0.03 million) also missed their mark. In response, the energy component fell from the $43.00/bbl price level, ending its day lower by 2.4% ($41.90/bbl; -$1.01).

The broader market hovered near its session low through the afternoon as investors looked ahead to the release of the FOMC's July policy statement. The statement struck a somewhat hawkish tone, indicating that near-term risks to the economic outlook had diminished. However, investors appear somewhat skeptical of the potential for a rate hike by the end of the year. The fed funds futures market currently reflects the implied probability of an interest rate hike at the December meeting at 46.8%, ticking down from yesterday's estimate of 51.5%.

The benchmark index ended off its low as technology (+0.8%), telecom services (+0.7%), and health care (+0.4%) led the advance. On the flipside, consumer staples (-1.5%), utilities (-1.2%), and energy (-1.0%) rounded out the board.

The influential technology sector (+0.8%) demonstrated relative strength as large cap component Apple (AAPL 103.03, +6.36) rallied 6.6%. Additionally, heavily-weighted Facebook (FB 123.34, +2.12) jumped 1.8% ahead of this evening's earnings report. The high-beta chipmakers finished ahead of the broader market as Cavium Networks (CAVM 46.84, +3.11) topped the price-weighted index. The company reported an in-line quarter, but raised its earnings estimates above consensus.

Biotechnology outperformed in the health care space (+0.4%) evidenced by the 2.4% gain in the iShares Nasdaq Biotechnology ETF (IBB 287.03, +6.75). Allergan (AGN 260.24, +11.29) helped lead the ETF after Teva Pharmaceuticals (TEVA 55.16, +0.85) announced that its acquisition of Allergan's generic division should close next week.

The Dow Jones Transportation Average (-1.5%) displayed relative weakness as rail names and freight companies underperformed. Norfolk Southern (NSC 90.14, -2.61) fell 2.8% after reporting that overall volume declined 7.0% year-over-year. However, the company did top bottom-line estimates. Separately, C.H. Robinson (CHRW 38.35, -3.79) lost 5.3% after quarterly revenue failed to meet analysts' estimates. The company reported that its top line shrank 6.9% year-over-year.

In the consumer staples sector (-1.5%), beverage names underperformed as Coca-Cola (KO 43.40, -1.48) lost 3.3%. The company lowered its full-year earnings estimates below consensus. SABMiller (SBMRY 56.25, -1.40) ended lower by 2.4% amid reports that the company has ordered employees to halt integration work with Anheuser-Busch InBev (BUD 121.94, -4.66). The move followed yesterday's revised bid for the company.

The U.S. Dollar Index (96.81, -0.36) finished near its session low as the euro and the pound gained against the greenback. The single currency gained 0.6% against the dollar (1.1054) while cable jumped 0.5% (1.3195). The two currencies notched highs against the dollar after the release of the FOMC's July policy statement. Separately, the dollar/yen ended higher by 0.5% (105.20).

Treasuries ended higher as yields declined throughout the complex. The yield on the 10-yr note slipped six basis points to 1.51%.

Today's trading volume was above the recent average as more than 960 million shares changed hands on the NYSE floor.

Today's economic data included the weekly MBA Mortgage Index, Durable Orders for June, and Pending Home Sales for June:

The weekly MBA Mortgage Index showed a seasonally adjusted decrease of 11.2% in mortgage applications after declining 1.3% in the prior week.
Durable goods orders declined 4.0% in June (Briefing.com consensus -1.0%) on top of a downwardly revised 2.8% decline in May (from -2.2%).
Excluding transportation, orders were down 0.5% (Briefing.com consensus +0.2%) on the heels of a downwardly revised 0.4% decline in May (from -0.3%).
The June report was particularly disappointing since it revealed order declines in just about every category -- and a number of categories, including primary metals, registered a second consecutive monthly decline in orders.
The notable exception in June was orders for motor vehicle and parts, which increased 2.6%. The only other area to see in an increase in orders was electrical equipment, appliances and components (+0.8%).
Nondefense capital goods orders, excluding aircraft, were up 0.2% after a 0.5% decline in May.
This metric is seen as a proxy for business spending, so it holds a little silver lining for June; however, it would be remiss not to mention that they are down 3.8% year-over-year.
Shipments of these goods, which factor into GDP computations, declined 0.4% in June after falling 0.5% in May.
On a year-over-year basis, durable goods orders are unchanged. Excluding transportation, they are down 1.1%.
Pending Home Sales for June rose by 0.2% while the Briefing.com consensus expected an uptick of 1.1%. Separately, the May decline was unrevised at 3.7%.

Tomorrow's economic data will include weekly initial claims (Briefing.com consensus 260k) and June International Trade in Goods (Briefing.com consensus -$61.2 billion), which will each cross the wires at 8:30 ET.

Russell 2000 +7.3% YTD
Dow Jones +6.0% YTD
S&P 500 +6.0% YTD
Nasdaq Composite +2.6% YTD

3:30 pm: [BRIEFING.COM]

The dollar index is down -0.3% around the 96.85 level, boosting select commodities
Commodities, as measured by the Bloomberg Commodity Index, are down -0.7% around the 83.13 level
Crude oil reverses initial morning gains & plummets to 3-month lows after EIA data showed a surprise build compared to Consensus
August crude oil futures fell $1.01 (-2.4%) to $41.90/barrel
EIA data highlights:
Crude oil inventories had a build of +1.671 mln (consensus called for a draw between -1.6 mln and -2.6 mln barrels)
Gasoline inventories had a build of +0.452 mln
Distillate inventories had a draw of -0.780 mln
Baker Hughes rig count data will be released Friday at 1 pm ET
Monthly IEA data will be released Aug 11
Natural gas drifts lower and consolidates around its lows of the session ahead of tomorrow's inventory number
August natural gas closed $0.02 lower (-0.8%) at $2.66/MMBtu
EIA natural gas inventory data will be released tomorrow at 10:30 am ET
In precious metals, gold sees an initial morning bounce and an afternoon of sideways trading, closing near highs of the day
August gold ended today's session up $5.80 (+0.4%) to $1326.60/oz
Silver futures see a sustained uptrend, closing near its highs of the session as the dollar index loses momentum
September silver closed today's session $0.31 higher (+1.6%) at $19.99/oz
Base metal copper extends yesterday's losses in afternoon pit trading
September copper closed $0.04 lower (-1.8%) at $2.19/lb

2:55 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the Nasdaq Composite (+0.5%) trades ahead of the Dow Jones Industrial Average (+0.2%) while the S&P 500 (-0.1%) underperforms.

Seven sectors trade in the red as consumer staples (-1.2%), energy (-1.0%), and utilities (-0.9%) round out the leaderboard. The remaining decliners sport losses between 0.1% (financials) and 0.4% (industrials). On the flipside, health care (+0.3%), telecom services (+0.8%), and technology (+0.9%) outperform.

In the health care space (+0.3%), biotechnology demonstrates relative strength, evidenced by the 1.7% gain in the iShares Nasdaq Biotechnology ETF (IBB 285.00, +4.72). In the group, Allergan (AGN 256.33, +7.38) trades higher by 3.0% after Teva Pharmaceuticals (TEVA 54.63, +0.32) announced that its acquisition of Allergan's generic division should close next week. In the broader sector, Anthem (ANTM 134.41, -3.18) trades lower by 2.3% as concerns regarding a blocked merger with CIGNA (CI 137.98, -2.03) overshadow positive quarterly results.

On the commodities front, WTI crude ended its day lower by 2.4% ($41.90/bbl; -$1.01).

2:35 pm:

[BRIEFING.COM] The stock market briefly notched a fresh session low after the Federal Open Market Committee voted to leave the key policy rate unchanged at 0.25% to 0.50%. However, the major averages have climbed off those levels since then as the S&P 500 (UNCH) flirts with its flat line.

The FOMC struck a somewhat hawkish tone in its latest policy statement, citing strengthening in labor markets and diminishing near-term risks to their economic outlook. Additionally, the Fed removed language indicating concern over geopolitical developments. Recall that the committee dampened rate hike expectation in the June statement, lowering its outlook for the fed funds rate at the end of 2017 (to 1.6% from 1.9%) and 2018 (to 2.4% from 3.0%). The July statement maintained a cautious view on inflation.

The policy statement has elicited some shifts in the fed funds futures market as the implied probability of a rate hike at the September meeting rises to 30.0% (from 26.8%) while the probability of a rate hike at the November meeting increases to 31.4% (from 28.2%).

The financial sector (-0.2%) trimmed its loss following the announcement. The U.S. Dollar Index (97.13, -0.03) trades near its low as the euro and the pound gain ground to the greenback. The euro has gained 0.3% against the buck (1.1011) while the pound/dollar pair trades higher by 0.3% (1.3171). Long-dated Treasuries have rallied to session highs as the yield on the 10-yr note slips five basis points to 1.51%.

1:55 pm:

[BRIEFING.COM] The major averages have moved off their worst levels of the day as the S&P 500 (-0.3%) remains behind the Dow Jones Industrial Average (-0.1%). The benchmark index has declined 11 points since notching a session high in the opening hour of trade.

The economically-sensitive financial (-0.3%) sector has inched off a session low as rate-sensitive real estate investment trusts underperform. The sub-group has been under pressure today, falling alongside defensively-oriented sectors. However, the fed funds futures market continues to reflect low odds for a rate hike today. Additionally, the fed funds futures market estimates the implied probability of a rate hike at the September and November meetings at 26.8% and 28.2%, respectively. The December meeting shows the largest implied probability of a rate hike, registering at 52.2%.

On the commodities front, WTI crude trades lower by 2.4% ($41.89/bbl; -$1.03) while gold ended its session higher by 0.4% at $1,326.60/ozt.

The Federal Open Market Committee's July policy statement is set to be released momentarily and we will offer highlights from that statement in our next update.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have taken another leg lower since our last update, coinciding with continued weakness in crude oil futures following this morning's inventory report.

A look inside the Dow Jones Industrial Average shows that Coca-Cola (KO 43.25, -1.63), McDonald's (MCD 119.73, -1.98), and Nike (NKE 55.56, -0.81) are underperforming. Coke shares are lower following Q2 results and downside 2016 guidance while McDonald's shares are seeing continued selling pressure following Tuesday's disappointing quarterly report. Lastly, Nike shares are in the red amid sector weakness in consumer discretionary names.

Conversely, Apple (AAPL 103.06, +6.39) is the best-performing Dow component following its Fiscal Third Quarter results, in which the tech giant reported better than expected top and bottom-line results and offered Fiscal Fourth Quarter sales guidance that, at the midpoint, was ahead of analyst estimates. Following the report, Raymond James upgraded shares, giving them an Outperform rating.

For the week, the DJIA is currently down 0.64%.

1:15 pm:

[BRIEFING.COM] The stock market trades on a mixed note at midday as gains in the technology sector bolster the Nasdaq Composite (+0.3%) while the Dow Jones Industrial Average (-0.1%) and S&P 500 (-0.3%) underperform. The earnings season remains in full-swing as stronger-than-expected bottom-line results from top-weighted Apple (AAPL 103.03, +6.36) help buoy the broader market ahead of the release of the July FOMC policy statement. Additional factors impacting today's trade include a rebound in the dollar, weakness from the oil patch, and the underperformance of the heavily-weighted industrial (-0.6%) sector.

Equity markets notched highs at the start of the session, responding to a positive bias in global bourses and better-than-expected results from Apple (AAPL 103.03, +6.36). Japan's Nikkei (+1.7%) paced the advance in overseas markets after Prime Minister Shinzo Abe unveiled a JPY28 trillion fiscal stimulus package. The announcement precedes Friday's policy statement from the Bank of Japan.

The benchmark index abandoned a modest gain after the first hour of trade. The downturn in the broader market occurred alongside a similar decline in crude oil. WTI crude slipped from the $43.00/bbl price level shortly before the release of the Department of Energy's weekly inventory data. The EIA reported that crude inventories unexpectedly rose (+1.67 million barrels; estimated: -2.25 million barrels) while gasoline inventories rose faster than expected (+0.45 million barrels; estimated: +0.03 million barrels). Currently, WTI crude trades lower by 2.5% ($41.83/bbl; -1.09).

Seven sectors trade in the red as consumer staples (-1.4%), utilities (-1.2%), and energy (-1.2%) round out the leaderboard. The remaining decliners sport losses between 0.2% (financials) and 0.6% (industrials). Conversely, telecom services (+0.5%) and technology (+0.5%) trade neck-and-neck in front of the pack.

The influential technology sector (+0.5%) displays relative strength as heavily-weighted Apple (AAPL 103.03, +6.36) leads. The stock has jumped 6.6% after beating analysts' bottom-line estimates for the quarter and surpassing iPhone sales estimates. Separately, fellow large cap names outperform as Alphabet (GOOG 740.37, +1.95) and Facebook (FB 121.91, +0.69 +0.61) gain 0.3% and 0.6%, respectively. On a side note, Facebook is scheduled to report its quarterly results after today's close. Conversely, the high-beta chipmakers underperform the sector, evidenced by the 0.3% decline in the PHLX Semiconductor Index.

The heavily-weighted industrial sector (-0.6%) underperforms amid a downturn in diversified machinery and rail names. Rockwell Automation (ROK 116.49, -4.15) has slipped 3.4% after missing top-line expectations for the quarter. The company cited mixed market conditions for the 6.4% year-over-year decline in revenue. The Dow Jones Transportation Average (-1.6%) displays relative weakness as Norfolk Southern (NSC 89.42, -3.33) weighs on the index. The stock has fallen 3.6% after reporting that overall volume declined 7.0% year-over-year.

In the commodity-sensitive energy space (-1.2%), independent oil and gas names and refiners display relative weakness. Anadarko Petroleum (APC 53.12, -1.62) trades lower by 3.0% as a downturn in crude oil overshadows above-consensus quarterly results. Separately, Valero Energy (VLO 52.18, -0.49) and Marathon Petroleum (MPC 38.07, -0.54) have declined by 1.4% and 1.5%, respectively. The broader sector sports a loss of 2.8% in July, trailing the remaining sectors.

Hotel names underperform in the consumer discretionary space (-0.4%) as Marriott (MAR 70.61, -1.06) trades lower in sympathy with Wyndham Worldwide (WYN 70.23, -6.96). Wyndham Worldwide has plunged 9.0% after missing revenue estimates for the quarter and lowering its full-year revenue outlook. Retailers also underperform in the sector as Ralph Lauren (RL 98.29, -2.66) declines 2.6%. The company has been under pressure after receiving cautious commentary at OTR Global.

The U.S. Dollar Index (97.28, +0.12) hovers off its best level as the greenback gains ground against the pound, commodity currencies, and the yen. Sterling has tickled lower by 0.1% against the buck (1.3126) while the dollar/Canadian dollar pair trades higher by 0.2% (1.3210). Separately, the dollar/yen trades higher by 1.0% (105.67) as investors eye fiscal stimulus measures in Japan.

Treasuries trade near session highs as yields slip throughout the complex. The yield on the 10-yr note has ticked down two basis points to 1.54%.

Today's economic data included the weekly MBA Mortgage Index, Durable Orders for June, and Pending Home Sales for June:

The weekly MBA Mortgage Index showed a seasonally adjusted decrease of 11.2% in mortgage applications after declining 1.3% in the prior week.
Durable goods orders declined 4.0% in June (Briefing.com consensus -1.0%) on top of a downwardly revised 2.8% decline in May (from -2.2%).
Excluding transportation, orders were down 0.5% (Briefing.com consensus +0.2%) on the heels of a downwardly revised 0.4% decline in May (from -0.3%).
The June report was particularly disappointing since it revealed order declines in just about every category -- and a number of categories, including primary metals, registered a second consecutive monthly decline in orders.
The notable exception in June was orders for motor vehicle and parts, which increased 2.6%. The only other area to see in an increase in orders was electrical equipment, appliances and components (+0.8%).
Nondefense capital goods orders, excluding aircraft, were up 0.2% after a 0.5% decline in May.
This metric is seen as a proxy for business spending, so it holds a little silver lining for June; however, it would be remiss not to mention that they are down 3.8% year-over-year.
Shipments of these goods, which factor into GDP computations, declined 0.4% in June after falling 0.5% in May.
On a year-over-year basis, durable goods orders are unchanged. Excluding transportation, they are down 1.1%.
Pending Home Sales for June rose by 0.2% while the Briefing.com consensus expected an uptick of 1.1%. Separately, the May decline was unrevised at 3.7%.

12:30 pm:

[BRIEFING.COM] The major indices continue to probe their worst levels of the day as the Nasdaq Composite (+0.3%) leads the Dow Jones Industrial Average (-0.1%) and the S&P 500 (-0.3%).

The consumer staples sector (-1.3%) displays relative weakness as beverage names pace the retreat. Coca-Cola (KO 43.24, -1.63) sports a loss of 3.6% after lowering its full-year earnings estimates below consensus and also lowering its organic revenue outlook. SABMiller (SBMRY 55.67, -1.98) trades lower by 3.4% amid reports that the company has ordered employees to halt integration processes with Anheuser-Busch InBev (BUD 122.75, -3.85). The move follows yesterday's revised bid for the company. Separately, Mondelez International (MDLZ 44.57, -0.68) trades lower by 1.6% after lowering its organic revenue growth estimates. The broader sector has declined 2.2% in July, leading only energy (-1.1%; month-to-date: -2.7%) over that period.

The Treasury complex continues to trade near its best level of the day as yields fall throughout the curve. The yield on the 10-yr note has slipped two basis points to 1.54%. For the month, the yield on the 10-yr note has risen five basis points from its June settlement at 1.49%.

12:00 pm:

[BRIEFING.COM] The S&P 500 (-0.3%) remains behind the other major indices, hovering one point above its session low. Elsewhere, the domestically-facing Russell 2000 (UNCH) outperforms.

The consumer discretionary sector (-0.3%) trades beneath its flat line as Marriott (MAR 70.00, -1.63) underperforms ahead of this evening's quarterly report. The stock is trading lower in sympathy with Wyndham Worldwide (WYN 70.00, -7.19). Wyndham Worldwide has tumbled 9.3% after missing top-line estimates for the quarter and lowering its revenue guidance for the full year. Retailers also underperform in the sector, evidenced by the 0.6% decline in the SPDR S&P Retail ETF (XRT 44.99, -0.24). In the group, Ralph Lauren (RL 98.47, -2.48) has declined by 2.5% after receiving cautious commentary at OTR Global. The retail ETF sports a gain of 1.1% for the week, compared to a loss of 0.3% in the broader sector.

On the commodities front, WTI crude trades lower by 1.9% ($4.11/bbl; -0.82) while gold has ticked higher by 0.4% ($1,326.40/ozt, +$5.60).

11:30 am:

[BRIEFING.COM] The major averages hover above session lows as the S&P 500 (-0.2%) trades behind the Dow Jones Industrial Average (UNCH). The two indices sport respective July gains of 3.2% and 3.0%.

The Dow Jones Transportation Average (-1.2%) displays relative weakness as freight and rail names weigh on the index. Norfolk Southern (NSC 89.88,-2.87) trades lower by 3.1% as investors respond to a 7.0% decline in volume for the quarter. However, the railroad operator did report a bottom bottom-line beat ahead of today's opening bell. Union Pacific (UNP 91.73, -1.28) and CSX (CSX 28.34, -0.38) trade lower in sympathy with the name, sliding 1.4% apiece. C.H. Robinson (CHRW 68.99, -3.15) has surrendered 4.4% after its top-line results failed to meet analysts' estimates. The company reported that revenue fell 6.9% year-over-year, totaling $3.3 billion in the second quarter. The broader Transportation Average has lost 1.2% this week, compared to a loss of 0.5% in the benchmark index.

Treasuries trade near session highs as yields slip throughout the complex. The yield on the 10-yr note has ticked down three basis points to 1.53%.

10:55 am:

[BRIEFING.COM] The stock market trades on a mixed note as the Nasdaq Composite (+0.4%) outperforms the Dow Jones Industrial Average (UNCH) and the S&P 500 (-0.1%). The broader market came under pressure after the latest inventory reading from the Department of Energy elicited a bearish reaction in oil.

The EIA reported that crude oil inventories rose by 1.67 million barrels compared to the estimated 2.25 million barrel draw. Additionally, gasoline inventories also surprised to the downside, showing a build of 0.45 million barrels (consensus: +0.03 million barrels). WTI crude slipped from the $43.10/bbl price level shortly after the inventory data. At this juncture, the energy component trades lower by 2.1% ($42.03/bbl; -$0.89).

The commodity-sensitive energy space (-0.8%) trades ahead of only the countercyclical consumer staples (-1.2%) sector. In the energy group, Anadarko Petroleum (APC 53.76, -0.97) displays relative weakness as a downturn in crude oil overshadows a top- and bottom-line earnings beat. Dow component Exxon Mobil (XOM 90.84, -0.70) trades slightly ahead of the broader sector as investors look ahead to Friday morning's earnings release. The energy sector has lost 2.3% this week, trailing the remaining groups.

10:30 am: [BRIEFING.COM]

The dollar index is up +0.1% around the 97.21 level
Commodities, as measured by the Bloomberg Commodity Index, are down -0.1% around the 83.63 level
Crude oil drops below the previous session's close after EIA data showed a surprise build compared to Consensus
August crude oil futures are currently down $0.77 (-1.8%) at $42.15/oz
Before EIA data, crude was up $0.20 (+0.4%) at $43.12/barrel
EIA petroleum inventory highlights:
Crude oil inventories had a build of +1.671 mln (consensus called for a draw between -1.6 mln and -2.6 mln barrels)
Gasoline inventories had a build of +0.452 mln
Distillate inventories had a draw of -0.780 mln
Monthly IEA data will be released August 11
Baker Hughes rig count data will be released this Friday at 1 pm ET
Natural gas sees a steady morning rally before reversing off its session highs and trending lower ahead of tomorrow's inventory number
August natural gas futures are up $0.03 (+1.1%) at $2.71/MMBtu
EIA natural gas inventory data will be released tomorrow at 10:30 am ET
In precious metals, gold rallies and consolidates near its highs of the day as the dollar trades nearly flat
August gold futures are up $5.60 (+0.4%) at $1326.40/oz
Silver sees an early morning rally to 20.20/oz before pulling back slightly in tandem with gold
September silver futures are up $0.37 (+1.9%) at $20.06/oz
Base metal copper inches lower in morning pit trading
September copper futures are down $0.02 (-0.7%) at $2.21/lb

10:05 am:

[BRIEFING.COM] The major averages have pulled back in recent action as the Nasdaq Composite (+0.6%) continues to lead the S&P 500 (+0.1%). The benchmark index trades three points off its opening high.

Six sectors currently trade in positive territory as materials (+0.5%), energy (+0.5%), and heavily-weighted technology (+0.9%) pace the advance. On the flipside, consumer staples (-0.9%), utilities (-0.5%), and health care (-0.1%) round out the leaderboard.

Just reported, Pending Home Sales for June rose by 0.2% while the Briefing.com consensus expected an uptick of 1.1%. Separately, the May decline was unrevised at 3.7%.

The U.S. Dollar Index (97.21, +0.05) hovers above its session low as the greenback loses ground to commodity currencies, the euro, and the yen. The dollar/Canadian dollar pair trades lower by 0.1% (1.3180) while the single currency has gained 0.2% against the buck (1.1003). Separately, the dollar/yen trades higher by 1.1% (105.77).

9:45 am:

[BRIEFING.COM] The stock market began the day on a higher note as the Nasdaq Composite (+0.7%) leads the Dow Jones Industrial Average (+0.3%) and the S&P 500 (+0.2%).

Five sectors trade in the green as energy (+0.5%) and technology (+1.1%) outperform. The remaining gainers sport upticks between 0.1% (consumer discretionary) and 0.3% (materials). On the flipside, countercyclical consumer staples (-1.0%), utilities (-0.5%), health care (-0.4%), and telecom services (-0.2%) underperform.

In the technology space (+1.1%), top-weighted Apple (AAPL 104.03, +7.36) outperforms after surpassing analysts' bottom-line estimates for the quarter. The company also reported that it sold 40.4 million iPhones in the quarter, beating projections. The high-beta chipmakers display relative strength, evidenced by the 0.5% gain in the PHLX Semiconductor Index.

Beverage names underperform in the consumer staples sector (-1.0%) as Coca-Cola (KO 43.53, -1.37) slides 3.0%. The company beat bottom-line estimates for the quarter, but lowered its full-year earnings estimates below-consensus.

On the commodities front, WTI crude trades higher by 0.2% ($43.03/bbl; +0.10) while gold has ticked higher by 0.5% ($1,326.80, +6.00).

9:16 am: [BRIEFING.COM] S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +39.40.

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

Index futures gained overnight as equities received a boost from top-weighted Apple (AAPL 104.65, +7.98) and news of further easing measures out of Japan. The tech giant has rallied 8.3% after reporting bottom-line results and iPhone metrics that surpassed analysts' estimates. Additionally, Apple offered better-than-expected guidance for the fourth quarter. Separately, global bourses maintained a decidedly risk-on posture after Japan's Prime Minister Shinzo Abe unveiled a larger-than-expected fiscal stimulus package. Stimulus measures will total JPY28 trillion while prior estimates had projected potential stimulus at JPY20 trillion. The announcement precedes Friday's policy statement from the Bank of Japan.

The Federal Open Market Committee is scheduled to release its latest policy statement at 14:00 ET. Investors remain convinced that the Fed will remain on hold as the fed funds futures market estimates the implied probability of a rate hike resulting from today's meeting at 3.6%. In fact, market expectations remain below 50.0% until the December meeting, which registers at 54.4%. For its part, WTI crude trades modestly higher, ticking higher 0.2% to $43.02/bbl.

In company specific news, Buffalo Wild Wings (BWLD 155.00, +8.00) trades higher by 5.4% after beating bottom-line estimates for the quarter and guiding full-year earnings estimates in line with analysts' expectations. Panera Bread (PNRA 216.50, +8.89) has jumped 4.3% after surpassing top- and bottom-line estimates for the quarter. The company also reported that comparable store sales rose 4.2%, beating analysts' projections.

Today's economic data will be capped with Pending Home Sales for June (Briefing.com consensus +1.1%), which will cross the wires at 10:00 ET.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +36.10.

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

Equity indices across the Asia-Pacific region ended Wednesday on a mixed note. Japan's Nikkei (+1.7%) outperformed and the yen stumbled after Prime Minister Shinzo Abe revealed plans for a fiscal stimulus package in the amount of JPY28 trillion. The package is expected to be compiled next month, but it is unclear how much direct stimulus will be involved.

In economic data:
Australia's Q2 CPI +0.4% quarter-over-quarter, as expected (last -0.2%); +1.0% year-over-year (consensus 1.1%; last 1.3%). Q2 Trimmed Mean CPI +0.5% quarter-over-quarter (expected 0.4%; last 0.2%)
South Korea's July Consumer Confidence ticked up to 101 from 99

---Equity Markets---

Japan's Nikkei spiked 1.7%. Nine sectors registered gains with materials (+4.9%), industrials (+1.9%), and technology (+1.9%) showing relative strength while energy (-1.3%) lagged. Mitsumi Electric, Minebea, SUMCO, Nitto Denko, Alps Electric, TDK, Casio Computer, and Nissan Motor gained between 4.3% and 16.4%.
Hong Kong's Hang Seng added 0.4% with financials and select property names showing relative strength. Cheung Kong Porperty Holdings, Hang Lung Properties, Bank of East Asia, HSBC, and ICBC gained between 0.7% and 1.0%.
China's Shanghai Composite lost 1.9% amid reports hinting at the introduction of curbs on wealth management products, aimed at reducing leverage. Inner Mongolia Lantai Industrial, Shanghai Baosight Software, Grinm Advanced Materials, and Lucky Film lost between 9.8% and 10.0%.

Major European indices trade higher across the board with Italy's MIB (+1.8%) rebounding from recent underperformance. Other regional indices hold slimmer gains while the euro is little changed against the dollar at 1.1000. The rebound in Italian equities has taken place following reports indicating Banca Monte dei Paschi di Sienna is looking to raise EUR5 billion in capital by Friday.

In economic data:
Eurozone Private Sector Loans +1.7% year-over-year, as expected (previous 1.6%) and M3 Money Supply +5.0% year-over-year, as expected (last 4.9%)
Germany's August GfK Consumer Climate 10.0 (expected 9.9; last 10.1). June Import Price Index +0.5% month-over-month (expected 0.6%; last 0.9%); -4.6% year-over-year, as expected (last -5.5%)
UK's Q2 GDP +0.6% quarter-over-quarter (expected 0.4%; last 0.4%); +2.2% year-over-year (consensus 2.0%; last 2.0%). July CBI Distributive Trades Survey -14 (expected 1; last 4)
France's June PPI +0.4% month-over-month and July Consumer Confidence ticked down to 96 from 97, as expected
Swiss June Consumption Indicator 1.34 (last 1.24)
Spain's June Retail Sales +5.6% year-over-year (consensus 3.3%; last 2.3%)
Italy's July Consumer Confidence 111.3 (consensus 109.2; last 110.2) and Business Confidence 103.1 (expected 101.8; previous 102.9)

---Equity Markets---

UK's FTSE is higher by 0.7% amid strength in homebuilders. Taylor Wimpey, Persimmon, and Barratt Developments are up between 4.7% and 5.3%. Select consumer names also outperform with Dixons Carphone, Burberry, and Morrison Supermarkets up between 2.5% and 3.1%.
Germany's DAX has added 0.9% with exporters pacing the advance. Volkswagen, Daimler, and BMW are up between 2.1% and 3.8%. On the downside, Deutsche Bank has surrendered 4.1%.
France's CAC has climbed 1.7% with Peugeot surging 8.6% in reaction to better than expected results. LVMH has also responded positively to earnings, soaring 7.0%.
Italy's MIB is higher by 1.8% with Telecom Italia jumping 10.2% in reaction to strong results. Financials BMPS, Banca di Milano Scarl, Banco Popolare, and Intesa Sanpaolo are up between 1.5% and 4.1%.

8:35 am: [BRIEFING.COM] S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +34.80.

Equity futures have inched lower in recent trade as the S&P 500 futures trade four points above fair value.

Just released, June durable goods orders decreased 4.0% while the Briefing.com consensus expected a downtick of 1.0%. This comes after the prior month's revised decline of 2.8% (from -2.3%). Excluding transportation, durable orders slipped 0.5% (Briefing.com consensus +0.2%) to follow the prior month's revised decline of 0.4% (from -0.3%).

The U.S. Dollar Index (97.23, +0.07) trades higher as the greenback gains ground against the pound and yen. Sterling has lost 0.2% against the buck (1.3110) while the dollar/yen pair jumps 0.9% to 105.60. Separately, the single currency has gained 0.2% against the dollar (1.1004).

8:08 am: [BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +35.50.

U.S. equity futures trade higher with the S&P 500 futures floating five points above fair value while Nasdaq futures outperform. Nasdaq futures jumped overnight as investors responded to better than expected bottom-line results from Apple (AAPL 103.60, +6.93). Additionally, the high-beta chipmakers continue to outperform, responding to news that Analog Devices (ADI 68.00, +5.12) will acquire Linear Technology (LLTC 61.45, -1.04) for approximately $14.8 billion.

Japan's Nikkei (+1.7%) led global bourses after Prime Minister Shinzo Abe revealed plans for a fiscal stimulus package totaling JPY28 trillion. This exceeds prior estimates that had fiscal stimulus measures pegged at JPY20 trillion. The package is expected to be compiled next month. On the home front, the Fed will release its latest policy statement at 14:00 ET. However, participants continue to be skeptical of potential rate hikes in 2016. Currently, the fed funds futures market estimates the implied probability of a rate hike at today's meeting at 2.4%. Additionally, the implied probability of a rate hike at the September and December meetings are 19.5% and 42.8%, respectively.

The Treasury complex trades on mixed note as the yield on the 10-yr note rises one basis point to 1.57%.

On the economic front, the weekly MBA Mortgage Index showed a seasonally adjusted decrease of 11.2% in mortgage applications. Separately, Durable Orders for June (Briefing.com consensus -1.0%) and Pending Home Sales for June (Briefing.com consensus +1.1%) will be released at 8:30 ET and 10:00 ET, respectively. The day's data will be capped off with the FOMC's July rate decision, which will cross the wires at 14:00 ET.

In U.S. corporate news of note:

Apple (AAPL 103.60, +6.93): +7.2% after topping bottom-line estimates for the quarter and raising Q4 revenue estimates
Twitter (TWTR 16.57, -1.88): -10.2% following the company lowering Q3 revenue guidance below analysts' estimates
Analog Devices (ADI 68.00, +5.12): +8.2% after announcing that it would acquire Linear Technology (LLTC 61.45, -1.04) for $60.00 per share or approximately $14.8 billion
Boeing (BA 137.16, +2.31): +1.7% following the company reporting a net quarterly loss that was in-line with previously announced write downs

Reviewing overnight developments:

Asia-Pacific indices ended on a mixed note as Japan's Nikkei (+1.7%) outperformed Hong Kong's Hang Seng (+0.4%) and China's Shanghai Composite (-1.9%).
In economic data:
Australia's Q2 CPI +0.4% quarter-over-quarter, as expected (last -0.2%); +1.0% year-over-year (consensus 1.1%; last 1.3%). Q2 Trimmed Mean CPI +0.5% quarter-over-quarter (expected 0.4%; last 0.2%)
South Korea's July Consumer Confidence ticked up to 101 from 99
In news:
In Japan, Prime Minister Shinzo Abe revealed plans for a fiscal stimulus package in the amount of JPY28 trillion.
The package is expected to be compiled next month, but it is unclear how much direct stimulus will be involved.

European indices trade higher as France's CAC (+1.7%) leads Germany's DAX (+1.0%) and the U.K.'s FTSE (+0.6%). Separately, Italy's MIB (+1.4%) rebounds from recent losses.
In economic data:
Eurozone Private Sector Loans +1.7% year-over-year, as expected (previous 1.6%) and M3 Money Supply +5.0% year-over-year, as expected (last 4.9%)
Germany's August GfK Consumer Climate 10.0 (expected 9.9; last 10.1). June Import Price Index +0.5% month-over-month (expected 0.6%; last 0.9%); -4.6% year-over-year, as expected (last -5.5%)
UK's Q2 GDP +0.6% quarter-over-quarter (expected 0.4%; last 0.4%); +2.2% year-over-year (consensus 2.0%; last 2.0%). July CBI Distributive Trades Survey -14 (expected 1; last 4)
France's June PPI +0.4% month-over-month and July Consumer Confidence ticked down to 96 from 97, as expected
Swiss June Consumption Indicator 1.34 (last 1.24)
Spain's June Retail Sales +5.6% year-over-year (consensus 3.3%; last 2.3%)
Italy's July Consumer Confidence 111.3 (consensus 109.2; last 110.2) and Business Confidence 103.1 (expected 101.8; previous 102.9)
In news:
Italian equities outperform amid reports indicating Banca Monte dei Paschi di Sienna is looking to raise EUR5 billion in capital by Friday.
The euro is little changed against the dollar at 1.0991.

5:59 am: [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +28.50.

5:59 am: [BRIEFING.COM] Nikkei...16665...+281.80...+1.70%. Hang Seng...22219...+89.30...+0.40%.

5:59 am: [BRIEFING.COM] FTSE...6744.90...+20.90...+0.30%. DAX...10322.92...+75.20...+0.70%.

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


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic Bookmark and Share  [ 1 post ] 

All times are UTC - 5 hours


Who is online

Users browsing this forum: No registered users and 1 guest


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr