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 Post subject: July 8th Friday Trade Results - Profit $1,750.00
PostPosted: Fri Jul 08, 2016 8:05 pm 
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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://stocktwits.com/wrbtrader (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 @ $1,750.00 dollars or +35.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $1,750.00 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 (traders do not tell you when to buy and sell). 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=158&t=2406

The free chat room is not a signal calling chat 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 chat room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

Image Price Action Analysis via Advance WRB Analysis Tutorial Chapters @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=119&t=718

Analysis -----> Trade Signals

Image Trade Signal Strategies via Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm and there's a free trade signal strategy @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=89 so that you can freely test drive one of our price action trade strategies with support (answering your questions) prior to purchasing the Volatility Trading Report (VTR). All WRB Analysis Tutorial Chapters 1 - 12 are included in the purchase of the Volatility Trading Report (VTR).

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=294&t=3166 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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Market Context Summaries

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

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


4:20 pm: [BRIEFING.COM] The stock market ended an abbreviated week on a higher note as a positive reading of the Employment Situation Report for June brought the S&P 500 (+1.5%) within 0.1% of its all-time intraday high (2134.72). The upbeat June employment report sparked a risk rally, indicating a rebound in the labor market without prompting speculation regarding a sooner-than-expected move from the Fed. Additionally, a rebound in oil futures, softening in the dollar, and sector leadership from the heavily-weighted industrial (+1.9%), financial (+1.8%), consumer discretionary (+1.8%), and technology (+1.7%) sectors added to sustained buying interest. The Nasdaq Composite (+1.6%) ended its day ahead of the S&P 500 (+1.5%) and the Dow Jones Industrial Average (+1.4%).

Today's session began on a higher note as a positive reading of the Employment Situation Report for June alleviated concerns regarding weakness in the U.S. labor market. The report showed that both nonfarm payrolls (287K; Briefing.com consensus 175K) and nonfarm private payrolls (265k; Briefing.com consensus 170k) rebounded from disappointing May readings. However, the positive data failed to spark rate hike fears as negative revisions to May's readings, weak average hourly earnings growth, and global uncertainty weigh on rate hike expectations.

The major averages extended their advance through the session as the heavyweight industrial (+1.9%), financial (+1.8%), and consumer discretionary (+1.8%) sectors followed materials (+2.5%) on the leaderboard. The benchmark index notched a session high (2131.71) shortly before the final hour of trade, falling short of an all-time high. The S&P 500 (+1.5%) finished with all ten sectors in positive territory as defensive sectors underperformed. Countercyclical utilities (+1.0%), consumer staples (+1.0%), telecom services (+1.0%) rounded out the leaderboard.

The Dow Jones Transportation Average (+2.6%) finished ahead of the broader market as rail names and airlines demonstrated relative strength. On that note, Norfolk Southern (NSC 86.42, +2.38) and Union Pacific (UNP 90.69, +2.66) jumped 2.8% and 3.0%, respectively. Separately, Avis Budget (CAR 34.61, +3.71) outperformed after Hertz Global (HTZ 47.90, +4.41) disclosed that it signed confidentiality agreements with Carl Icahn and other parties.

The economically-sensitive financial sector (+1.8%) outperformed as credit service names and life insurance companies topped the space. In the group, Capital One (COF 64.71, +2.82) jumped 4.6% after receiving an upgrade at DA Davidson from "Neutral" to "Buy." Elsewhere, MetLife (MET 39.20, +0.93) rallied 2.4% after disclosing that its wholly-owned Hong Kong subsidiary grew by 116% year-over-year in the first quarter. The broader sector gained 1.8% today, erasing a modest weekly loss to finish higher by 0.8%.

The energy sector (+1.3%) finished behind the broader market as the space recovered from sharp weekly losses in oil. The energy component ended its day higher by 0.4% ($45.36/bbl; +$0.17), narrowing its weekly loss to 7.5%. In the group, Baker Hughes (BHI 43.69, +0.15) ticked higher by 0.3% after announcing that its international rig count fell to 927 in June (from 955 in May). Separately, Dow component Exxon Mobil (XOM 93.54, +0.58) finished higher by 0.6%.

The U.S. Dollar Index (96.26, -0.06) ended modestly lower as the yen and the pound gained against the buck. Sterling gained 0.4% against the dollar (1.2953) while the dollar/yen pair finished lower by 0.3% (100.47). On the flipside, the single currency lost 0.1% against the dollar (1.1054).

The Treasury complex ended on a mixed note as the yield on the 10-yr note slipped three basis point to 1.36%. Conversely, the yield on the short-term 2-yr note rose two basis points to 0.61%.

Today's participation was above the recent average as more than 906 million shares changed hands on the NYSE floor.

Today's economic data included the Employment Situation Report for June and Consumer Credit for May:

The June Employment Situation report was a big beat at first glance, but a dive below the surface shows some soft spots in the overall employment picture.
Nonfarm payrolls increased by 287,000 (Briefing.com consensus 180,000).
Over the past three months, job gains have averaged 147,000 per month
May nonfarm payrolls revised to 11,000 from 38,000
April nonfarm payrolls revised to 144,000 from 123,000
Private sector payrolls increased by 265,000 (Briefing.com consensus 178,000)
May private sector payrolls revised to -6,000 from 25,000
The unemployment rate was 4.9% (Briefing.com consensus 4.8%) versus 4.7% in May
Persons unemployed for 27 weeks or more accounted for 25.8% of the unemployed versus 25.1% in May
June average hourly earnings were up 0.1% (Briefing.com consensus 0.2%) after being up 0.2% in May
Over the last 12 months, average hourly earnings have risen 2.6%
Aggregate earnings were up 0.2% on top of a downwardly revised unchanged reading in May (from 0.2%)
The average workweek was 34.4 hours (Briefing.com consensus 34.4) versus 34.4 in May
June manufacturing workweek was down 0.1 to 40.7 hours
Factory overtime was up 0.1 to 3.3 hours
The labor force participation rate was 62.7% versus 62.6% in May
The uptick in the unemployment rate was a function of a slight expansion in the labor force participation rate.
This followed a 0.2% decline in the participation rate and a 0.3% decline in the Unemployment rate in May.
The downward revision to May nonfarm private payrolls resulted in the first negative reading for that series since 2010.
Total outstanding consumer credit increased by $18.56 billion in May after increasing $13.40 billion in April. The Briefing.com consensus estimate for May was $15.70 billion.
In the preceding 12-month period leading up to May, consumer credit had risen by an average of $18.58 billion.
The growth in May was driven primarily by nonrevolving credit, which increased by $16.20 billion. Revolving credit increased by $2.30 billion.
In May, consumer credit increased at a seasonally adjusted annual rate of 6.25%.

There is no economic data of note scheduled to be released on Monday. However, it is worth noting that China will release CPI and PPI reports for June on Saturday at 21:30 ET.

S&P 500 +4.2% YTD
Dow Jones +4.1% YTD
Russell 2000 +3.6% YTD
Nasdaq Composite -1.0% YTD

Week in Review: S&P 500 Flirts With Record Closing High After June Jobs Beat

The stock market extended its post-Brexit rebound with theS&P 500 rising 1.3% for the week. The benchmark index had a better showingthan the Dow Jones Industrial Average (+1.1%), but could not keep pace with theNasdaq Composite (+1.9%).

Despite the underperformance relative to the tech-heavyindex, the S&P 500 still closed just below its all-time high with the bulkof the weekly advance coming in response to Friday's release of the JuneEmployment Situation Report (287,000; Briefing.com consensus 175,000).

Post-Brexit concerns were cited for a defensive start to theweek, but the cautious tone dissipated by the weekend, at least as far as theU.S. stock market was concerned. The S&P 500 flirted with a new closingrecord high on Friday after a strong jobs report overshadowed weak averagehourly earnings growth (+0.1%; Briefing.com consensus 0.2%). The virtuallynonexistent earnings growth likely contributed to the Friday rally in themarket, since it will be used as an argument against a rate hike in the nearterm. Treasuries, meanwhile, dipped immediately after the report, but climbedinto the afternoon to the end the week with solid gains, leaving the 10-yryield at an all-time closing low of 1.368%.

Rate hike expectations, as indicated by the fed fundsfutures market, did inch up, but not enough to raise any serious concern amongmarket participants. The fed funds futures market sees no chance of a rate hikein July while the implied probability of a hike in September or November is justover 10.0%. Even when looking one year out, the implied likelihood of a hike inJune of 2017 is just 32.9%.

3:30 pm: [BRIEFING.COM]

The dollar index is flat/modestly up +0.03%, trading around the 96.29 level in afternoon pit trading
Commodities, as measured by the Bloomberg Commodity Index, are up +1.0% at 86.40
Crude oil inches higher, finding early morning support near the $45/barrel handle after experiencing notable volatility post-jobs report
August crude oil futures rose $0.17 (+0.4%) to $45.36/barrel
Baker Hughes announced June 2016 rig counts:
The international rig count for June 2016 was 927 down 28 from the 955 counted in May 2016, and down 219 from the 1,146 counted in June 2015.
The international offshore rig count for June 2016 was 223, down 6 from the 229 counted in May 2016, and down 54 from the 277 counted in June 2015.
The avg U.S. rig count for June 2016 was 417, up 9 from the 408 counted in May 2016, and down 444 from the 861 counted in June 2015.
The avg Canadian rig count for June 2016 was 63, up 21 from the 42 counted in May 2016, and down 66 from the 129 counted in June 2015.
The worldwide rig count for June 2016 was 1,407, up 2 from the 1,405 counted in May 2016, and down 729 from the 2,136 counted in June 2015.
Natural gas erases all of the previous session's losses and closes higher following the jobs report which reported nonfarm payrolls well above Consensus
August natural gas closed $0.02 higher (+0.7%) at $2.80/MMBtu
In precious metals, gold drifts lower in the afternoon after an initial morning pop after the jobs data
August gold ended today's session down $3.60 (-0.3%) to $1358.40/oz
Silver surges to close at fresh 23-month highs in afternoon pit trading
September silver closed today's session $0.22 higher (+1.1%) at $20.07/oz
Base metal copper closes afternoon pit trading unchanged for the day
September copper closed flat at $2.12/lb

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour, the Nasdaq Composite (+1.7%) leads the S&P 500 (+1.6%) and the Dow Jones Industrial Average (+1.4%). The broader market ticked lower shortly after the benchmark index rose above its all-time closing high at 2130.82.

In economic news, the just-released Consumer Credit report for May showed an increase of $18.6 billion while the Briefing.com consensus expected growth of $15.3 billion. The prior month's credit growth was revised lower to $13.40 billion from $13.42 billion.

All ten sectors continue to trade in the green as materials (+2.7%) lead industrials (+2.0%), financials (+1.9%), and consumer discretionary (+1.8%). Conversely, countercyclical utilities (+0.6%) and consumer staples (+0.9%) trade behind the broader market.

The Treasury complex trades mostly higher as the yield on the 10-yr note slides two basis points to 1.36%. Separately, the yield on the 2-yr note has risen two basis points to 0.61%.

WTI crude ended its day higher by 0.4% ($45.36/bbl; +$0.17), narrowing its weekly loss to 7.5%.

2:30 pm:

[BRIEFING.COM] The major averages continue to float near their best levels of the day as the Nasdaq Composite (+1.6%) leads the S&P 500 (+1.5%) and the Dow Jones Industrial Average (+1.4%). The benchmark index trades within two points of its all-time closing high (2130.82).

The commodity-sensitive energy sector (+1.3%) underperforms the broader market, rebounding from yesterday's 1.1% decline. WTI crude trades higher by 0.6% ($45.42/bbl; +$0.28) ahead of its pit session close at 14:30 ET. For the week, the energy component sports a loss of 7.3%, marking the largest weekly decline since January.

In the sector (+1.3%), Baker Hughes (BHI 43.45, -0.09) underperforms after reporting that the international rig count fell to 927 in June from 955 in May. On a somewhat related note, the company recently reported that the total U.S. rig count increased by nine to 400 over the past week. Separately, Dow component Exxon Mobil (XOM 93.43, +0.47) trades behind the broader sector, ticking higher by 0.5%.

2:00 pm:

[BRIEFING.COM] The S&P 500 (+1.4%) has ticked higher in recent action as the benchmark index trades 0.2% away from its all-time closing high (2130.82).

The countercyclical consumer staples sector (+0.7%) trades behind the broader market as investors continue to demonstrate increased risk appetite. In the group, Dow component Wal-Mart (WMT 73.20, -0.03) rounds out the price-weighted index. The stock has gained 0.6% since the beginning of July, compared to a gain of 0.8% in the broader sector over that period. Elsewhere, Archer-Daniels (ADM 43.30, +1.18) has rallied 2.8%, erasing a monthly loss.

On the earnings front, PriceSmart (PSMT 84.79, -6.76) has fallen 7.4% after missing bottom-line estimates for the quarter. The company reported that operating income declined by 17.9% year-over-year while net income fell 20.8% over that same period.

The Treasury complex continues to inch higher as the short-dated 2-year note shows the only loss on the day. The yield on the 2-yr note has risen one basis point to 0.61%. Elsewhere, the yield on the 10-yr note has slipped two basis point to 1.37%.

On the commodities front, gold ended its day lower by 0.3% ($1,358.40, -$3.60), trimming its weekly gain to 1.5%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have continued to extended gains since our previous update as stocks rally following this morning's strong jobs report.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 77.13, +2.08), American Express (AXP 61.42, +1.61), & DuPont (DD (DD 63.55, +1.63) are outperforming amid the broad market rally. DuPont shares are rallying in recent trade after the company was ordered to pay $500k in punitive damages in a case corresponding to side-effects from its Teflon chemical. The award was seen as a significant win compared to the consensus for a much harsher monetary penalty.

Conversely, Wal-Mart (WMT 73.37, -0.16) is the worst-performing Dow component as shares pullback following recent outperformance.

Closing in on the final trading hours of the day, the DJIA, at current levels, is poised to end the week higher by nearly 1%.

1:10 pm:

[BRIEFING.COM] The stock market trades on a broadly higher note at midday, responding to a positive reading of the Employment Situation Report for June. Today's report helped investors shelve concerns regarding a slowing labor market while failing to prompt speculation regarding sooner-than-expected action from the Fed. Other focal points impacting today's trade include weak performance from safe-haven assets and key sector leadership from the heavily-weighted financial (+1.7%), industrial (+1.7%), consumer discretionary (+1.6%), and technology (+1.5%) sectors. Currently, the Nasdaq Composite (+1.4%) trades ahead of the S&P 500 (+1.2%) and the Dow Jones Industrial Average (+1.1%).

Equity indices climbed at the start of the session as participants ruminated over a stronger-than-expected reading of the Employment Situation Report for June. Headline readings showed that nonfarm payrolls (287K; Briefing.com consensus 175K) and nonfarm private payrolls (265k; Briefing.com consensus 170k) each handily beat estimates. However, downward revisions to the May report tempered the potential rate hike implications of the report. Additionally, uncertainty surrounding the global economy may keep the Federal Reserve on hold.

The major averages extended early gains through the afternoon as the benchmark index notched a new June high shortly after midday (2125.42). The S&P 500 (+1.3%) has since ticked lower, remaining above support at the 2120 price level. All ten sectors continue to trade in the green as materials (+2.3%), financials (+1.7%), industrials (+1.7%), and consumer discretionary (+1.6%) lead the pack. Conversely, countercyclical utilities (+0.2%), consumer staples (+0.6%), and telecom services (+0.8%) show the slimmest gains.

The economically-sensitive financial sector (+1.7%) outperforms, responding to the better-than-expected employment reading for June. In the group, Dow component American Express (AXP 61.35, +1.54) leads as it trades higher in sympathy with Capital One (COF 64.62, +2.73). Capital One has gained 4.4% after DA Davidson upgraded the stock to "Buy" from "Neutral." Elsewhere, MetLife (MET 39.37, +1.10) has climbed 2.9% after reporting that its Hong Kong subsidiary grew by 116% year-over-year in the first quarter.

The Dow Jones Transportation Average (+2.6%) displays relative strength as airlines continue to rebound from their post-Brexit selloff. In the group, Delta Air Lines (DAL 37.65, +1.28) and United Continental (UAL 41.70, +1.61) have gained 3.6% and 4.0%, respectively. Elsewhere, Avis Budget (CAR 33.85, +2.95) trades higher alongside Hertz Global (HTZ 46.69, +3.20). Hertz disclosed that Carl Icahn and other related parties entered into confidentiality agreements with the company.

Retail names outperform in the consumer discretionary space (+1.6%), evidenced by the 2.5% gain in the SPDR S&P Retail ETF (XRT 43.34, +1.05). In the ETF, Gap (GPS 22.67, +1.04) has rallied 4.8% after reporting above-consensus same store sales for June. Elsewhere, homebuilders outperform as the iShares Dow Jones US Home Construction ETF (ITB 29.08, +0.73) jumps 2.6%.

In the influential technology sector (+1.5%), the high-beta chipmakers outperform as Intel (INTC 33.95, +0.75) climbs 2.3%. The stock is benefiting from an upgrade at Bernstein to "Market Perform" from "Underperform." Separately, Barracuda Networks (CUDA 18.12, +2.61) has surged 16.9% after reporting above-consensus results for the quarter and raising its full-year outlook.

The U.S. Dollar Index (96.26, -0.06) has slipped beneath its flat line as the greenback loses ground to the pound and the yen. The pound/dollar pair trades higher by 0.4% (1.2960) while the dollar has lost 0.3% against the safe-haven yen (100.53).

The Treasury complex trades on a mixed note despite the persistent rally in equities. The yield on the 10-yr note has slipped one basis point to 1.38% while the yield on the 30-yr bond has ticked lower by three basis points (2.11%).

Today's economic data included the Employment Situation Report for June:

The June Employment Situation report was a big beat at first glance, but a dive below the surface shows some soft spots in the overall employment picture.
Nonfarm payrolls increased by 287,000 (Briefing.com consensus 180,000).
Over the past three months, job gains have averaged 147,000 per month
May nonfarm payrolls revised to 11,000 from 38,000
April nonfarm payrolls revised to 144,000 from 123,000
Private sector payrolls increased by 265,000 (Briefing.com consensus 178,000)
May private sector payrolls revised to -6,000 from 25,000
The unemployment rate was 4.9% (Briefing.com consensus 4.8%) versus 4.7% in May
Persons unemployed for 27 weeks or more accounted for 25.8% of the unemployed versus 25.1% in May
June average hourly earnings were up 0.1% (Briefing.com consensus 0.2%) after being up 0.2% in May
Over the last 12 months, average hourly earnings have risen 2.6%
Aggregate earnings were up 0.2% on top of a downwardly revised unchanged reading in May (from 0.2%)
The average workweek was 34.4 hours (Briefing.com consensus 34.4) versus 34.4 in May
June manufacturing workweek was down 0.1 to 40.7 hours
Factory overtime was up 0.1 to 3.3 hours
The labor force participation rate was 62.7% versus 62.6% in May
The uptick in the unemployment rate was a function of a slight expansion in the labor force participation rate.
This followed a 0.2% decline in the participation rate and a 0.3% decline in the Unemployment rate in May.
The downward revision to May nonfarm private payrolls resulted in the first negative reading for that series since 2010.

The Consumer Credit Report for May (Briefing.com consensus $15.3 billion) will be released at 15:00 ET.

12:30 pm:

[BRIEFING.COM] The major averages have ticked off their session highs as the Nasdaq Composite (+1.4%) leads the S&P 500 (+1.2%) and the Dow Jones Industrial Average (+1.1%).

All ten sectors trade in the green as heavily-weighted financials (+1.7%) and industrials (+1.7%) lead materials (+1.7%) and consumer discretionary (+1.5%). On the flipside, countercyclical utilities (+0.1%) and consumer staples (+0.6%) sport the slimmest gains.

The influential technology sector (1.4%) trades ahead of the broader market as the high-beta chipmakers outperform. In the sub-group, Qualcomm (QCOM 53.99, +1.06) and Intel (INTC 33.90, +0.70) display relative strength, climbing 2.0% and 2.1%, respectively. In the broader sector, Barracuda Networks (CUDA 18.20, +2.69) has spiked 17.3% after beating top- and bottom-line estimates for the quarter and raising its full-year outlook above analysts' estimates. The technology sector shows a gain of 0.5% for 2016, trailing the remaining sectors except for financials (+1.8%; year-to-date: -4.0%).

On the commodities front, WTI crude trades flat at $45.15/bbl while gold has slipped 0.6% ($1,354.30/ozt; -7.80). On a side note, Baker Hughes will announce the latest weekly U.S. rig count data at 13:05 ET.

12:00 pm:

[BRIEFING.COM] The major indices have traded sideways in recent action as the S&P (+1.3%) trades within one point of its best level of the day.

The Dow Jones Transportation Average (+2.3%) displays relative strength as Avis Budget (CAR 33.01, +2.11) leads the index. The stock is trading higher in sympathy with Hertz Global (HTZ 46.04, +2.55) after Hertz disclosed that it entered into confidentiality agreements with Carl Icahn and other related parties. Separately, airlines outperform as the U.S. Global Jets ETF (JETS 21.68, +0.46) gains 2.2%.

In the broader industrial sector (+1.6%), Cummins (CMI 113.89, +2.63) and Eaton (ETN 61.55, +1.44) outperform among machinery names. Separately, Dow component General Electric (GE 32.14, +0.32) sports a weekly gain of 2.1%, compared to a gain of 1.5% in the broader sector.

The Treasury complex continues to trade on a mixed note despite the rally in equities and the above-consensus reading of the Employment Situation Report for June. The yield on the 10-yr note sits unchanged at 1.39% while the yield on the 30-yr bond has slipped two basis points to 2.12%.

11:30 am:

[BRIEFING.COM] The stock market has floated higher since the last update as the Nasdaq Composite (+1.5%) trades ahead of the S&P 500 (+1.3%).

In the consumer discretionary space (+1.6%), retail names demonstrate relative strength, evidenced by the 2.6% gain in the SPDR S&P Retail ETF (XRT 43.39, +1.10). In the group, Gap (GPS 22.80, +1.17) outperforms after reporting better-than-expected June same store sales figures. The stock has climbed 5.3%, extending its July advance to 7.5%. The broader consumer discretionary space has climbed 3.0% over that same period, leading the remaining groups. Separately, automakers have continued their recent rally as Ford (F 13.15, +0.40) and General Motors (GM 29.69, +0.95) gain 3.1% apiece.

The U.S. Dollar Index (96.38, +0.08) floats narrowly above its flat line, pulling back from earlier gains. Sterling shows a gain of 0.4% against the buck (1.2955), climbing off the 1.2910 level ahead of the session. Separately, the dollar/yen pair trades lower by 0.2% (100.60).

11:00 am:

[BRIEFING.COM] The major averages have inched higher since the last update as the S&P 500 (+1.1%) tests resistance near the 2120 price level. Elsewhere, the domestically-oriented Russell 2000 (+1.8%) outperforms.

The economically-sensitive financial sector (+1.6%) demonstrates broad-based strength as life insurance names, money center banks, and investment brokerages each sport substantial gains. The broader sector has benefited from a largely better-than-expected reading of the Employment Situation Report for June. The report beat on headline readings (287k; Briefing.com 175k), rebounding from disappointing May (11k; revised from 38k) figures.

In the consumer finance sub-group, Capital One (COF 64.42, +2.55) outperforms, gaining 4.1%. The stock received an upgrade to "Buy" from "Neutral" at DA Davidson, which cited overly discounted credit risks for the upgrade. Dow component American Express (AXP 61.23, +1.42) trades higher in sympathy with the name, leading the price-weighted index. The financial sector sports a gain of 0.6% for the week, erasing its monthly loss.

On the commodities front, WTI crude trades lower by 0.1% ($45.10/bbl, -$0.04) while gold has ticked lower by 0.5% ($1,355.50/ozt, -$6.60).

10:30 am: [BRIEFING.COM]

The dollar index retreats from its high of the day initially hit after the job numbers report, now modestly up +0.04% around the 96.37 level
Commodities, as measured by the Bloomberg Commodity Index, are up +0.9% at 86.27
Crude oil briefly tests the $46.00/barrel handle before reversing and consolidating near the midpoint of its initial rally
August crude oil futures are up $0.37 (+0.8%) at $45.51/barrel
IEA monthly data will be released June 13th
5 recent attacks this weekend on various oil pipelines located in Nigeria by militant groups after a brief ceasefire
In Nigeria they pumped an avg 1.53 mln barrels a day last month, an increase of about 90,000 a day from May
Baker Hughes announced June 2016 rig counts:
The international rig count for June 2016 was 927 down 28 from the 955 counted in May 2016, and down 219 from the 1,146 counted in June 2015.
The international offshore rig count for June 2016 was 223, down 6 from the 229 counted in May 2016, and down 54 from the 277 counted in June 2015.
The avg U.S. rig count for June 2016 was 417, up 9 from the 408 counted in May 2016, and down 444 from the 861 counted in June 2015.
The avg Canadian rig count for June 2016 was 63, up 21 from the 42 counted in May 2016, and down 66 from the 129 counted in June 2015.
The worldwide rig count for June 2016 was 1,407, up 2 from the 1,405 counted in May 2016, and down 729 from the 2,136 counted in June 2015.
Natural gas adds onto its initial post-jobs number rally, erasing all of the previous session's losses in current trade
August natural gas futures are up $0.03 (+0.9%) at $2.80/MMBtu
In precious metals, gold initially popped to a new high of the day around $1365.60/oz before drifting lower as the dollar trades flat in morning pit trading
August gold futures are currently up $5.90 (+0.4%) at $1356.20/oz
Silver saw notable volatility after the release of the jobs report, down as much as 3% before reversing and trading near parity with the previous session's close
September silver futures are up $0.07 (+0.4%) at $19.91/oz
Base metal copper inches higher in morning pit trading, after seeing an initial dip after the jobs report release
September copper futures are up $0.01 (+0.3%) at $2.13/lb

10:00 am:

[BRIEFING.COM] The stock market has inched higher in recent trade as the Nasdaq Composite (+0.9%) and the S&P 500 (+0.9%) continue to pace the advance. The benchmark index trades two points off its session high.

Eight sectors continue to trade on the positive end of the leaderboard as countercyclical health care (+0.1%) and consumer staples (+0.2%) sport the slimmest gains. In front of the pack, financials (+1.6%), materials (+1.2%), and consumer discretionary (+1.2%) lead.

The PHLX Semiconductor Index (+2.2%) demonstrates relative strength as Intel (INTC 33.85, +0.65) gains 2.0% after being upgraded to "Market Perform" from "Underperform" at Bernstein. Elsewhere, Silicon Labs (SLAB 49.09, +1.59) outperforms in the price-weighted index.

The U.S. Dollar Index (96.29, -0.04) trades narrowly beneath its flat line as the dollar gains against commodity currencies and the euro. The dollar/Canadian dollar pair trades higher by 0.2% (1.3028), ticking off the 1.3000 price level. The single currency has lost 0.1% against the buck (1.1055). Separately, the dollar has lost 0.1% against the safe haven yen 100.66.

9:45 am:

[BRIEFING.COM] As expected, the stock market began its day on a higher note as the Dow Jones Industrial Average (+0.7%) trades in-line with the S&P 500 (+0.7%) and the Nasdaq Composite (+0.7%).

Eight sectors trade in the green with financials (+1.4%), industrials (+1.4%), and materials (+1.2%) leading the advance. The remaining gainers sport upticks between 0.1% (health care) and 1.0% (energy). Conversely, telecom services (-0.3%) and utilities (-0.5%) show the only losses.

In the financial sector (+1.4%), life insurance names demonstrate relative strength as Prudential (PRU 70.55, +1.51) and MetLife (MET 39.16, +0.89) gain 2.2% and 2.4%, respectively. MetLife reported earlier that its wholly-owned subsidiary MetLife Hong Kong grew at a rate of 116% year-over-year.

The safe-haven utilities space (-0.5%) has been under pressure as investors demonstrate marked risk appetite at the beginning of the session. Additionally, a slight boost in rate hike expectations following the Employment Situation Report for June looks to weigh on the rate-sensitive group.

On the commodities front, WTI crude trades higher by 1.0% ($45.56/bbl, +$0.42) while gold trades lower by 0.5% ($1,355.40/ozt).

9:20 am: [BRIEFING.COM] S&P futures vs fair value: +13.00. Nasdaq futures vs fair value: +15.50.

The stock market is on track for a higher open with S&P 500 futures trading 13 points above fair value.

Futures notched new highs as investors evaluated an encouraging reading of the Employment Situation Report for June. The report showed strong headline growth (287k; Briefing.com consensus 175K) following a dismal reading in May (11k; revised from 38k). Furthermore, nonfarm private payroll also topped expectations (265k; Briefing.com consensus) after the May report indicated a negative revision (-6k; revised from 25k).

The June employment report contained a below-consensus reading of hourly earnings (+0.1%; Briefing.com consensus +0.2%), which may disappoint Fed officials looking for an uptick in wage growth and a potential boost to inflation. However, the fed funds futures market now reflects the odds of a rate hike at the December meeting at 22.3%, rising from 18.4% ahead of the jobs data. More importantly, the odds of a rate cut at the July meeting have fallen to 0.0%.

Treasuries initially slipped on the news as the yield on the 10-yr note rose four basis points to 1.43%. However, the yield on the note has inched lower in recent action, retracing to 1.38% (+0 bps). The short-end of the Treasury curve remains lower as the yields on the 2-yr (0.63%) and 5-yr (0.98%) notes rise three and two basis points, respectively.

In company specific news, Gap (GPS 22.60, +0.97) has gained 4.5% after reporting better-than-expected June same store sales. Elsewhere, PriceSmart (PSMT 82.61, -8.94) has tumbled 9.8% after missing bottom-line estimates for the quarter on in-line revenue. Additionally, the company reported that same store sales slipped 1.9% in June, but that number was higher than analysts had feared.

Today's data will be capped off with the Consumer Credit Report for May (Briefing.com consensus $15.3 billion), which will be released at 15:00 ET.

8:58 am: [BRIEFING.COM] S&P futures vs fair value: +17.50. Nasdaq futures vs fair value: +25.80.

Equity futures hover near session highs as S&P 500 futures trade 18 points above fair value.

Equity indices in the Asia-Pacific region ended the week on a lower note with Japan's Nikkei (-1.1%) struggling to keep pace with other markets. The country reported its first decline in average cash earnings in eleven months and it is worth noting that the upper house election will take place on Saturday. However, the opposition is not expected to put up a major challenge for the ruling LDP.

In economic data:
Japan's adjusted current account surplus narrowed to JPY1.41 trillion from JPY1.63 trillion (expected surplus of JPY1.52 trillion). June Bank Lending +2.0% year-over-year (consensus 2.2%; last 2.2%), May Overtime Pay +0.6% year-over-year (last 1.0%), and Average Cash Earnings -0.2% year-over-year (consensus 0.5%; last 0.0%). Economy Watchers Current Index 41.2 (consensus 42.9; last 43.0)

---Equity Markets---

Japan's Nikkei lost 1.1%, widening this week's decline to 3.7%. All ten sectors settled in the red with utilities (-2.8%), financials (-2.3%), and consumer staples (-2.0%) pacing the drop. Mitsui Fudosan, Sumitomo Realty & Development, Olympus, Meiji Holdings, Kikkoman, and Fast Retailing lost between 2.3% and 4.5%.
Hong Kong's Hang Seng fell 0.7%, ending the week lower by 1.1%. Energy-related names like China Shenhua Energy, China Petroleum & Chemical, and CNOOC lost between 1.1% and 2.5%. Select gaming names held up relatively well with Galaxy Entertainment rising 0.7% and Tencent Holdings adding 0.3%.
China's Shanghai Composite dropped 1.0%, but gained 1.9% for the week. Huaneng Power International, SAIC Motor, and Shanxi Coking lost between 3.9% and 8.2%.

Major European indices trade mostly higher while UK's FTSE (0.7%) lags amid a 0.2% advance in the British pound, which has climbed to 1.2935 against the dollar. European bourses extended their rally following a positive reading of the Employment Situation Report for June. For its part, the euro is lower by 0.4% against the dollar (1.1018).

In economic data:
Germany's May trade surplus narrowed to EUR22.20 billion (expected EUR23.80 billion; last EUR24.10 billion). May Imports +0.1% month-over-month (expected 0.4%; last -0.3%) and May Exports -1.8% month-over-month (consensus 0.3%; last 0.1%)
UK's May trade deficit widened to GBP9.88 billion from GBP9.41 billion (expected deficit of GBP10.65 billion)
France's May Industrial Production -0.5% month-over-month, as expected (last 1.2%)
Swiss June Unemployment Rate held at 3.3% (expected 3.5%)

---Equity Markets---

UK's FTSE trades higher by 0.7%. Consumer names lag with Sports Direct, British American Tobacco, Imperial Brands, Diageo, Unilever, and Associated British Foods down between 0.7% and 5.5%. On the upside, homebuilders Taylor Wimpey, Persimmon, and Barratt Developments are up between 5.4% and 8.2%.
France's CAC has climbed 1.8% amid strength in financials. Credit Agricole, Societe Generale, and BNP Paribas are up between 3.3% and 5.0%. Airbus Group is the weakest performer, down 1.0%.
Germany's DAX trades up 2.2% amid broad strength. Commerzbank has surged 5.5% while Deutsche Bank follows with a 3.8% gain. Exporters BMW, Volkswagen, and Daimler have gained between 2.6% and 3.1%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: +13.30. Nasdaq futures vs fair value: +18.30.

Equity futures rose to new session highs after an above-consensus reading of the Employment Situation Report for June. The S&P 500 futures trade 13 points above fair value.

June nonfarm payrolls came in at 287,000 while the Briefing.com consensus expected a reading of 175,000. The prior month's reading was revised lower to 11,000 (from 38,000). Nonfarm private payrolls added 265,000 while the consensus expected an increase of 170,000. The unemployment rate rose to 4.9% (Briefing.com consensus 4.8%).

Average hourly earnings increased 0.1% (Briefing.com consensus 0.2%). The average workweek was reported at 34.4, compared to the 34.4 called for by the consensus estimate.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: +6.50. Nasdaq futures vs fair value: +7.00.

U.S. equity futures trade higher with the S&P 500 futures hovering seven points above fair value. Futures ticked higher overnight as investors adopted a wait-and-see posture ahead of the Employment Situation Report for June. The Briefing.com consensus expects Nonfarm Payrolls to increase by 175k while it expects the unemployment rate to register in at 4.8%.

The report has taken on added significance after the minutes from the FOMC's June meeting cited uncertainty in the labor market as a key factor for holding rates in check. The fed funds futures market currently reflects diminished rate hike expectations through the end of the year, showing an 18.4% probability of a rate increase at the December meeting. For its part, WTI crude trades higher by 0.9% ($45.55/bbl, -$0.51) after falling 4.6% yesterday.

The Treasury complex trades on a mixed note as the yield on the 2-yr note rises two basis points to 0.61%. Elsewhere, the yield on the 10-yr note is little changed at 1.39%.

On the economic front, data is limited to the Employment Situation Report for June (Briefing.com consensus 175,000) and Consumer Credit for May (Briefing.com consensus $15.3 billion), which will cross the wires at 8:30 ET and 15:00 ET, respectively.

In U.S. corporate news of note:

Juno Therapeutics (JUNO 30.25, -10.57) -25.9% after receiving notice that the FDA placed a clinical hold on its JCAR015 trial, amid reports of patient deaths
Advanced Micro (AMD 4.77, -0.25): -5.0% following the company being downgraded to "Underperform" at Bernstein
Polycom (PLCM 12.33, +1.46): +13.4% after terminating its previous merger with Mitel Networks (MITL 7.47, +1.45) following the receipt of a superior offer from Siris Capital Group, which bid $12.50 per share

Reviewing overnight developments:

Asia-Pacific indices ended the week on a lower note with Japan's Nikkei -1.1%,China's Shanghai Composite -1.0%, and Hong Kong's Hang Seng -0.7%.
In economic data:
Japan's adjusted current account surplus narrowed to JPY1.41 trillion from JPY1.63 trillion (expected surplus of JPY1.52 trillion). June Bank Lending +2.0% year-over-year (consensus 2.2%; last 2.2%), May Overtime Pay +0.6% year-over-year (last 1.0%), and Average Cash Earnings -0.2% year-over-year (consensus 0.5%; last 0.0%). Economy Watchers Current Index 41.2 (consensus 42.9; last 43.0)
In news:
The country reported its first decline in average cash earnings in eleven months.
It is worth noting that the upper house election will take place on Saturday.
The opposition is not expected to put up a major challenge for the ruling LDP.

European indices trade mostly higher with Germany's DAX +1.5% and France's CAC +1.0% leading the U.K.'s FTSE +0.3%.
In economic data:
Germany's May trade surplus narrowed to EUR22.20 billion (expected EUR23.80 billion; last EUR24.10 billion). May Imports +0.1% month-over-month (expected 0.4%; last -0.3%) and May Exports -1.8% month-over-month (consensus 0.3%; last 0.1%)
UK's May trade deficit widened to GBP9.88 billion from GBP9.41 billion (expected deficit of GBP10.65 billion)
France's May Industrial Production -0.5% month-over-month, as expected (last 1.2%)
Swiss June Unemployment Rate held at 3.3% (expected 3.5%)
In news:
The advance in regional equities has occurred as sovereign bonds continue their rally.
In England, equities underperform amid a 0.6% advance in the British pound, which has climbed to 1.2985 against the dollar.
For its part, the euro is flat against the dollar at 1.1062.

5:54 am: [BRIEFING.COM] S&P futures vs fair value: +4.80. Nasdaq futures vs fair value: +4.00.

5:54 am: [BRIEFING.COM] Nikkei...15107...-169.30...-1.10%. Hang Seng...20564...-142.80...-0.70%.

5:54 am: [BRIEFING.COM] FTSE...6523.47...-10.30...-0.20%. DAX...9502.665...+83.90...+0.90%.

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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