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 Post subject: July 12th Tuesday Trade Results - Profit $375.00
PostPosted: Wed Jul 13, 2016 12:18 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://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 @ $375.00 dollars or +7.50 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $375.00 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. In contrast, the free chat room is for you to use as your trade journal of trades or your market analysis thoughts so that you can better understand your trades of the past anytime in the future. 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=2408

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.

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

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 major averages extended their recent rally to a third session as investors eyed potential stimulus measures out of the United Kingdom and Japan. The broader market maintained its risk-on approach, bidding up oil, growth sectors, and beleaguered currencies while selling off safe-haven assets. The S&P 500 (+0.7%) and the Dow Jones Industrial Average (+0.7%) each carved out all-time intraday and closing highs while the Nasdaq Composite (+0.7%) turned positive for the year.

U.S. equities began the day on a higher note, responding to a continued rebound in overseas bourses. Japan's Nikkei (+2.5%) paced the rebound after Prime Minister Shinzo Abe announced a potential stimulus package could total JPY10 trillion. Separately, the Bank of England's Mark Carney added to stimulus speculation when he stated that a monetary response remains available should Britain's post-Brexit outlook worsen. The Bank of England is scheduled to meet this Thursday.

The broader market gapped up at the start of the session with the benchmark index (+0.7%) and the Dow Jones Industrial Average (+0.7%) each notching new, all-time intraday highs during the first half hour of trade. The major averages pulled back soon thereafter in a move that corresponded with a short-lived downturn in crude oil. The benchmark index found support near the 2147 price level and exhibited a mostly positive bias for the remainder of the day.

The major indices ended the day off their highs with seven sectors finishing in positive territory. The energy (+2.3%) and materials (+1.9%) sectors finished ahead of the heavily-weighted financial (+1.2%), technology (+1.0%), and industrials (+0.9%) sectors. The defensive-oriented telecom services (-0.3%), health care (-0.5%), and utilities (-1.4%) sectors trailed the action and were the only sectors that lost ground on Tuesday.

The commodity-sensitive energy (+2.3%) sector ended its day on top of the leaderboard, rallying in conjunction with a 4.4% gain in oil futures ($46.74, +$1.97). OPEC's monthly report facilitated some buying interest after the cartel raised its demand outlook for 2016 and 2017. OPEC now estimates that global demand will increase by one million barrels per day by 2017. Separately, Alcoa (AA 10.69, +0.55) boosted the materials (+1.9%) sector after it beat analysts' estimates for the second quarter.

The Dow Jones Transportation Average (+2.2%) displayed relative strength as the major airlines outperformed. United Continental (UAL 46.16, +3.75) rallied 8.8% after raising its second-quarter unit revenue guidance. American Airlines (AAL 34.66, +3.50) spiked 11.2% after announcing that its consolidated pre-tax income will increase by $200 million due to co-branded credit cards.

The financial sector (+1.2%) displayed broad-based strength, trading higher in sympathy with European banking names. Royal Bank of Scotland (RBS 4.87, +0.15) and Barclays PLC (BCS 7.95, +0.28) settled higher by 3.2% and 3.7%, respectively. Dow component JPMorgan Chase (JPM 63.20, +1.93), which announced it will be raising the pay for 18,000 minimum wage workers, outperformed the price-weighted average. JPMorgan Chase will report its quarterly results before the open on Thursday.

Data storage names led in the technology space (+1.0%) after Seagate Technology (STX 29.35, +5.26) increased its second quarter guidance due to better than expected demand for its HDD product portfolio. The stock surged 21.8%. The high-beta chipmakers also displayed relative strength, evidenced by the 1.3% gain in the PHLX Semiconductor Index.

The U.S. Dollar Index (96.49, -0.08) ended its day modestly lower as the euro and pound each rebounded against the greenback. The euro/dollar pair finished higher by 0.1% (1.1063) while the pound climbed 2.0% against the buck (1.3251).

The Treasury complex finished on a lower note and saw broad-based selling pressure. The yield on the 10-yr note ended the day higher by seven basis points at 1.51%.

Today's trading volume was above the recent average as more than 952 million shares changed hands on the NYSE floor.

Today's economic data included May wholesale inventories and the May Job Openings and Labor Turnover Survey:

Wholesale inventories increased 0.1% in May (Briefing.com consensus +0.2%) after increasing an upwardly revised 0.7% (from 0.6%) in April.
Taking into account the upward revision to the prior month, May wholesale inventories were largely in-line with expectations.
The increase in May was driven by a 0.2% increase in nondurable inventories, which was aided by a 1.2% increase in apparel inventories and a 5.9% jump in farm products inventories.
Durable inventories were up 0.1%, bolstered by a 1.6% increase in professional equipment inventories and a 1.1% increase in electrical inventories.
Wholesale sales increased 0.5% following a downwardly revised 0.8% increase (from 1.0%) in April.
The wholesale inventories to sales ratio dipped to 1.35 from 1.36, but was up from 1.31 in the same period a year ago.
On a year-over-year basis, wholesale sales are down 2.5% while wholesale inventories are up 0.5%.
Wholesale inventories are just one component of total business inventories.
Manufacturing and retail inventories make up the rest of total business inventories.
The market doesn't typically pay much attention to this release since the full business inventories release comes a few days later.
The May Job Openings and Labor Turnover Survey showed that job openings came in at 5.500 million from a revised 5.845 million (from 5.788 million) in April.

Tomorrow's economic data will include the weekly MBA Mortgage Index and Import/Export Prices for May, which will cross the wires at 7:00 ET and 8:30 ET, respectively. The Fed's Beige Book for July and the Treasury Budget for June will both be released at 14:00 ET.

3:30 pm: [BRIEFING.COM]

The dollar index loses momentum, down -0.1% around the 96.46 level
Commodities, as measured by the Bloomberg Commodity Index, are up +1.6 at the 87.49 level
Crude oil rallies and closes at fresh highs of the session ahead of tonight's API data
August crude oil futures rose $1.97 (+4.4%) to $46.74/barrel
Monthly IEA data is scheduled to be released tomorrow
EIA petroleum inventory data is scheduled to be released tomorrow at 10:30 am ET
API data will be released today after the close
Natural gas sees a morning surge, consolidating just below its high of the session
August natural gas closed $0.03 higher (+1.1%) at $2.73/MMBtu
EIA natural gas inventory data will be released Thursday at 10:30 am ET
In precious metals, gold drops and consolidates around its afternoon lows, despite weakness in the dollar
August gold ended today's session down $21.30 (-1.6%) to $1335.60/oz
Silver futures see notable declines in the afternoon, easing off of 2-year highs hit last week to end lower along with gold for the day
September silver closed today's session $0.13 lower (-0.6%) at $20.17/oz
Base metal copper surges to close at highs of the session in afternoon pit trading
September copper closed $0.06 higher (+2.8%) at $2.21/lb
Grain futures close higher after the release of the WASDE Report
December corn closed $0.03 higher (+0.8%) at $3.60/bushel
September wheat closed $0.06 higher (+1.4%) at $4.36/bushel
November soybeans closed $0.29 higher (+2.7%) at $10.86/bushel
Wasde Highlights:
Global ending stocks:
Global corn ending stocks rose 1.6% to 208.39 million metric tons
Global wheat ending stocks fell 1.6% to 253.70 mmt
Global soybean ending stocks rose 1.2% at 67.10 mmt
In the U.S.:
Corn yield expectations for the 2016/17 crop season remained unchanged at 168.0 bushels per harvest acre
Wheat saw a big boost in yield expectations, rising 6% to 51.3 bu per harvested acre
Soybeans yields were unchanged, along with corn, at 46.7 bu per harvested acre
U.S. ending stocks:
Corn rose 3.6% to 2.081 bln bushels
Wheat rose 5.2% to 1.105 bln bushels
Soybean rose 12% to 290 mln bushels

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the S&P 500 (+0.8%) trades neck-and-neck with the Nasdaq Composite (+0.8%). The benchmark index recently notched a new all-time, intraday high at 2155.49.

Seven sectors trade in the green with the commodity-sensitive energy (+2.3%) and materials (+2.2%) sectors leading the heavyweight financial (+1.2%) and technology (+1.0%) sectors. On the flip side, the countercyclical telecom services (-0.1%), consumer staples (-0.4%), and utilities (-0.8%) sectors trail the action.

In the materials space (+2.2%), Alcoa (AA 10.69, +0.55) outperforms after reporting better than expected results for the second quarter. Alcoa also estimated that aluminum demand will increase by 5.0% in 2016, compared to a supply growth rate of 2.5%. Elsewhere, agrochemical producers and fertilizer names display relative strength after the USDA released its World Agriculture Supply and Demand Estimate Report. Mosaic (MOS 26.72, +1.03), CF Industries (CF 26.13, +1.46), and DuPont (DD 66.23, +1.99) have gained between 3.1% and 5.9%.

WTI crude ended its day higher by 4.4% ($46.74, +$1.97). On a related note, the American Petroleum Institute will release its weekly inventory data after today's close.

2:35 pm:

[BRIEFING.COM] The broader market has inched higher since our last update. The S&P 500 (+0.8%) trades in-line with the Dow Jones Industrial Average (+0.8%).

In the consumer discretionary space (+0.3%), heavyweight component Amazon (AMZN 742.15, -11.63) is a notable underperformer. The stock initially moved to a new all-time high (757.34) at the beginning of today's session, but has since run into profit taking after surging as much as 11% from its intraday low on June 27 (a span of just 10 trading sessions). The broader retail sub-group trades ahead of the sector, evidenced by the 0.9% gain in the SPDR S&P Retail ETF (XRT 44.26, +0.36). Separately, Priceline (PCLN 1341.25, -9.78) has pulled back today as the stock trims its monthly gain to 7.4%.

The Treasury complex trades on a lower note. The yield on the 10-yr note has risen nine basis points today to 1.52% and has risen 16 basis points since last week's settlement at 1.36%.

WTI crude trades higher by 4.5% ($46.81/bbl; +$2.05) ahead of its pit session close at 14:30 ET.

2:00 pm:

[BRIEFING.COM] The major averages trade off their best levels of the day as the S&P 500 (+0.7%) holds slightly ahead of the Nasdaq Composite (+0.6%). The benchmark index has gained 2.6% so far this month compared to a gain of 3.7% for the tech-heavy Nasdaq.

In the health care space (+0.5%), health care insurers underperform as Aetna (AET 115.54, -0.65) and Humana (HUM 153.23, -0.73) trade behind the broader market. The two potential merger partners have been under pressure in recent days as investors await regulatory approval of the deal. The two names have lost 3.8% and 14.8%, respectively, thus far in July. Separately, biotechnology outperforms as Amgen (AMGN 161.82, +1.64) trades higher by 1.0%. The company confirmed that it will discuss data regarding its ABP 501 Biologics License Application with the FDA's Arthritis Advisory Committee.

On the commodities front, gold ended the pit session lower by 1.7% ($1,335.60/ozt; -$22.80) as investors maintain a risk-on posture. Silver gained 0.5% ($20.17/ozt; +$0.10), extending its monthly gain to 8.4%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices continue to sport strong gains as equities extend their run to record highs.

A look inside the Dow Jones Industrial Average shows that DuPont (DD 66.20, +1.96), Goldman Sachs (GS 156.67, +4.48), & Nike (NKE 58.03, +1.20) are outperforming amid broad market strength. DuPont is leading the Dow as materials surge during today's rally.

Conversely, Wal-Mart (WMT 73.28, -0.78) is the worst-performing Dow component after shares were downgraded to Neutral at Northcoast.

At current levels, the DJIA has extended its 2016 gains to 5.3%

Elsewhere, at the top of the hour, the Treasury's $20 bln 10-year auction (reopening) drew a high yield of 1.516% on a bid-to-cover of 2.33.

1:10 pm:

[BRIEFING.COM] The stock market trades on a broadly higher note at midday, responding to increased expectations for stimulus measures overseas. Additional factors impacting today's trade include softening in the dollar, a rebound in oil, and the outperformance of the heavily weighted financial (+1.2%), technology (+0.9%), and industrial (+0.9%) sectors. At midday, the S&P 500 (+0.8%) trades in-line with the Nasdaq Composite (+0.8%) and the Dow Jones Industrial Average (+0.7%).

Global bourses tilted to the upside overnight as Japan's Nikkei (+2.5%) paced the advance. Prime Minister Shinzo Abe fueled risk appetite when he announced that the latest stimulus package from the country could total JPY10 trillion. Across the pond, Bank of England Governor Mark Carney added to the policy stimulus fervor when he commented that options remain available to the central bank should Britain's outlook worsen. Additionally, a rally in crude oil added to the bullish tenor as investors responded to optimistic comments from OPEC regarding demand in 2016 and 2017.

Equity indices climbed at the beginning of the session as the benchmark index and Dow Jones Industrial Average each notched all-time intraday highs. The broader market briefly pulled back after the opening high, but the S&P 500 (+0.8%) found support near the 2147 price level. The major averages float near their best levels as eight sectors trade in the green. The commodity-sensitive energy (+2.4%) and materials (+2.2%) groups lead the heavyweight financial (+1.2%) and technology (+0.9%) sectors. Conversely, countercyclical consumer staples (-0.3%) and utilities (-0.9%) round out the leaderboard.

The energy space (+2.4%) outperforms as the sector benefits from a 4.3% ($46.69/bbl; +$1.93) rally in crude oil. In the sector, independent oil and gas companies lead with ConocoPhillips (COP 44.19, +1.74) jumping 4.1%. On the flipside, refining names underperform with Valero Energy (VLO 49.08, +0.59) and Phillips 66 (PSX 76.15, +0.95) trading behind the broader sector. Weekly API inventory data will be released after today's close.

The economically-sensitive financial sector (+1.2%) trades higher in sympathy with European banking names. Lloyds Banking (LYG 3.02, +0.15) and Deutsche Bank (DB 14.23, +0.93) have gained a respective 5.4% and 7.0%. In the space, Dow component Goldman Sachs (GS 156.66, +4.47) outperforms inside the price-weighted index. Separately, money center banks trade in-line with the broader sector as the group looks ahead to a slew of earnings reports later in the week.

Data storage names outperform in the technology space (+0.9%) after Seagate Technology (STX 29.38, +5.29) raised its second quarter guidance, rallying 22.2%. The high-beta chipmakers also outperform the broader market, evidenced by the 1.0% gain in the PHLX Semiconductor Index.

The Dow Jones Transportation Average (+1.7%) displays relative strength as airline names trade higher in sympathy with United Continental (UAL 45.41, +3.00). United has spiked 7.1% after raising second-quarter unit revenue guidance. The U.S. Global Jets ETF (JETS 22.90, + 0.87) has gained 4.0%.

The U.S. Dollar Index (96.35, -0.22) trades off its best level of the day as the euro, Canadian dollar, and pound each sport gains against the greenback. The euro/dollar pair trades higher by 0.2% (1.1080) while the dollar has lost 1.0% against the Canadian dollar (1.2994). Finally, the pound has spiked 2.2% against the buck (1.3276).

The Treasury complex trades near its low as the yield on the 10-yr note rises eight basis points to 1.52%.

Today's economic data included May wholesale inventories and the May Job Openings and Labor Turnover Survey:

Wholesale inventories increased 0.1% in May (Briefing.com consensus +0.2%) after increasing an upwardly revised 0.7% (from 0.6%) in April.
Taking into account the upward revision to the prior month, May wholesale inventories were largely in-line with expectations.
The increase in May was driven by a 0.2% increase in nondurable inventories, which was aided by a 1.2% increase in apparel inventories and a 5.9% jump in farm products inventories.
Durable inventories were up 0.1%, bolstered by a 1.6% increase in professional equipment inventories and a 1.1% increase in electrical inventories.
Wholesale sales increased 0.5% following a downwardly revised 0.8% increase (from 1.0%) in April.
The wholesale inventories to sales ratio dipped to 1.35 from 1.36, but was up from 1.31 in the same period a year ago.
On a year-over-year basis, wholesale sales are down 2.5% while wholesale inventories are up 0.5%.
Wholesale inventories are just one component of total business inventories.
Manufacturing and retail inventories make up the rest of total business inventories.
The market doesn't typically pay much attention to this release since the full business inventories release comes a few days later.
The May Job Openings and Labor Turnover Survey showed that job openings declined to 5.500 million from a revised 5.845 million (from 5.788 million) in April.

12:25 pm:

[BRIEFING.COM] The major indices have each moved to fresh session highs as the S&P 500 (+0.8%) trades ahead of the Dow Jones Industrial Average (+0.7%). The two indices notched new all-time intraday highs at 2154.75 and 18357.94, respectively.

The Dow Jones Transportation Average (+1.7%) continues to outperform as airline names extend their advance. The U.S. Global Jets ETF (JETS 22.90, + 0.87) has rallied 4.0% after United Continental (UAL 45.28, +2.87) raised its second-quarter unit revenue guidance. Additionally, Deutsche Bank upgraded American Airlines (AAL 33.80, +2.64), Delta Air Lines (DAL 39.48, +1.36), and United Continental following the news. Separately, rail name CSX (CSX 26.93, +0.26) trades higher by 1.0% ahead of its earnings report tomorrow evening.

In the broader industrial sector (+0.9%), machine names Cummins (CMI 118.52, +2.63) and Eaton (ETN 63.84, +1.44) outperform, gaining 2.3% apiece. The broader sector has climbed 3.6% in July, compared to a gain of 2.6% in the benchmark index over that period.

WTI crude trades higher by 4.4% ($46.72/bbl; +$1.96), carving out a session high at $46.74/bbl.

12:00 pm:

[BRIEFING.COM] The major averages have climbed in recent action as the S&P 500 (+0.7%) trades in-line with the Dow Jones Industrial Average (+0.7%). The benchmark index notched a new all-time intraday high at 2153.85 in recent trade.

The influential technology sector (+1.0%) outperforms as data storage names pace the advance. In the group, Seagate Technology (STX 29.47, +5.38) has jumped 22.3% after the company issued upside guidance and announced restructuring news. The company raised its outlook due to increased demand for its hard drives. Western Digital (WDC 52.18, +2.70) has gained 5.5% as it trades higher in sympathy with Seagate. Separately, Dow component Microsoft (MSFT 53.35, +0.76) trades higher by 1.5%.

The high-beta chipmakers trade roughly in-line with the broader sector, evidenced by the 1.0% gain in the PHLX Semiconductor Index. In the group, Micron (MU 13.20, +0.57) outperforms, rallying 4.5%.

On the commodities front, WTI crude trades higher by 4.2% ($46.63/bbl; +$1.87), erasing yesterday's loss. Separately, safe haven gold has ticked lower by 1.5% ($1,336.80/ozt; -$16.80).

11:30 am:

[BRIEFING.COM] The major indices have floated higher in recent action as the Nasdaq Composite (+0.7%) trades in-line with the S&P 500 (+0.7%). Elsewhere, the domestically-oriented Russell 2000 (+1.1%) continues to outperform the remaining indices.

The economically-sensitive financial sector (+1.1%) demonstrates relative strength as the group responds to a rally in global bourses and financial names. On that note, Royal Bank of Scotland (RBS 4.87, +0.15) and Barclays PLC (BCS 7.93, +0.26) trade higher by 3.2% and 3.4%, respectively.

On the home front, Dow component Goldman Sachs (GS 156.16, +3.97) is the second-best performer inside the price-weighted index. The company is scheduled to release its quarterly report one week from today. Elsewhere, life insurance names outperform with MetLife (MET 40.62, +0.84) and Prudential (PRU 73.59, +1.78) climbing a respective 2.1% and 2.5%.

The U.S. Dollar Index (96.51, -0.06) trades off its best level of the day as the euro, Canadian dollar, and pound each continue to sport gains against the greenback. The euro/dollar pair trades higher by 0.1% (1.1064) while the dollar has lost 0.6% against the Canadian dollar (1.3037). Finally, the pound has spiked 1.8% against the buck (1.3228).

11:00 am:

[BRIEFING.COM] The major averages have pulled back since our last update as the S&P 500 (+0.5%) trades in-line with the Dow Jones Industrial Average (+0.5%). The benchmark index trades four points off its best level of the day.

The commodity-sensitive energy sector (+1.7%) has inched higher in recent action, responding to a similar move in crude oil. WTI crude trades higher by 2.4% ($45.84/bbl; +$1.08) after briefly dipping to the $45.50/bbl price level. The energy component is benefiting from bullish commentary from OPEC, citing the potential for increased demand in 2016 and 2017.

In the sector, independent oil and gas names demonstrate relative strength as Anadarko Petroleum (APC 57.08, +1.22) and ConocoPhillips (COP 43.62, +1.17) gain 2.7% and 2.7%, respectively. Elsewhere, Dow component Exxon Mobil (XOM 94.14, +0.25) trades behind the broader sector and the price-weighted index. Exxon sports a gain of 0.4% in the month of July, compared to an increase of 1.1% in the broader sector.

The Treasury complex trades on its low as the yield on the 10-yr note rises six basis points to 1.49%.

10:30 am: [BRIEFING.COM]

The dollar index is down -0.2% around the 96.43 level, boosting commodities overall
Commodities, as measured by the Bloomberg Commodity Index, are up +0.5% at 86.52
Crude oil surges to fresh highs of the day and pulls back after the release of the OPEC report
August crude oil futures are up $0.83 (+1.9%) at $45.60/barrel
API data will be released today after the bell
EIA petroleum data will be released tomorrow at 10:30 am ET
OPEC Report highlights:
Demand for OPEC crude in 2016 is expected to be 31.9 mb/d, which is 1.9 mb/d higher than the 2015 level.
In 2017, demand for OPEC crude is projected to be 33.0 mb/d, 1.1 mb/d higher than this year's level.
Forecast for 2016: Demand for OPEC crude in 2016 is expected to be 31.9 mb/d, representing an increase of 1.9 mb/d from last year's level. Compared to the same quarters last year, the 1Q16 is estimated to increase by 0.9 mb/d, while both the 2Q16 and 3Q16 are expected to increase by 2.3 mb/d, and the 4Q16 is anticipated to see growth of 2.1 mb/d.
Forecast for 2017: Based on the first forecast for demand and non-OPEC supply (including OPEC NGLs and non-conventional oil) for 2017, the demand for OPEC crude next year is projected to grow by 1.1 mb/d to average 33.0 mb/d. This is the second consecutive yearly increase. 1Q17 and 2Q17 are expected to increase y-o-y by 1.8 mb/d and 0.6 mb/d, respectively, while 3Q17 and 4Q17 are anticipated to see growth of 1.1 mb/d and 0.8 mb/d, respectively
Natural gas futures edge higher in morning pit trading after yesterday's notable -3.6% plummet
August natural gas futures are up $0.02 (+0.8%) at $2.72/MMBtu
EIA natural gas data will be released Thursday at 10:30 am ET
In precious metals, gold trades lower, despite weakness in the dollar index as money flows to riskier assets and the stock market hits all time highs
August gold futures are down $12.40 (-0.9%) at $1344.20/oz
Silver rallies to trade just under 2-year highs, the gold:silver ratio is at fresh 2-year lows as gold drops
September silver futures are up $0.12 (+0.6%) at $20.42/oz
Base metal copper doubles yesterday's gains in morning pit trading
September copper futures are up $0.03 (+1.3%) $2.18/lb

10:05 am:

[BRIEFING.COM] The major averages moved off their best level of the day as the Nasdaq Composite (+0.7%) continues to lead the S&P 500 (+0.6%). On a side note, the Dow Jones Industrial Average (+0.5%) notched a new all-time intraday high at 18353.76 earlier in the session.

Just released, May wholesale inventories increased 0.1% while the Briefing.com consensus expected an uptick of 0.2%. Today's report followed last month's revised increase of 0.7% (from 0.6%).

Separately, the May Job Openings and Labor Turnover Survey showed that job openings came in at 5.500 million from a revised 5.845 million (from 5.788 million) in April.

The U.S. Dollar Index (96.39, -0.18) floats off its best level of the day as the greenback extends its lead over the yen. The dollar/yen pair trades higher by 1.7% (104.55) climbing off the 103.90 price level ahead of the session.

9:45 am:

[BRIEFING.COM] As expected, the stock market began its day on a higher note with the Nasdaq Composite (+0.8%) trading ahead of the S&P 500 (+0.7%) and the Dow Jones Industrial Average (+0.6%). The benchmark index notched a fresh all-time intraday day high at the open (2151.28).

Seven sectors trade in the green with commodity-sensitive energy (+1.7%) and materials (+1.3%) leading the advance. The pair are followed on the leaderboard by heavily-weighted financials (+1.1%) and industrials (+0.9%). Conversely, countercyclical telecom services (-0.1%), consumer staples (-0.4%), and utilities (-0.9%) sport the only losses.

The Dow Jones Transportation Average (+1.7%) displays relative strength as airline names continue to outperform in the group. United Continental (UAL 45.03, +2.60) and American Airlines (AAL 33.40, +2.24) have gained 6.2 and 7.3%, respectively. The sub-group is trading higher in sympathy with United Continental after it reported that consolidated traffic increased by 1.4% in the second quarter while consolidated capacity rose by 0.5%.

In the materials space (+1.3%), Alcoa (AA 10.66, +0.52) has rallied 5.2% after reporting quarterly results that beat analysts' estimates.

On the commodities front, WTI crude trades higher by 2.5% ($45.89/bbl; +$1.14) while gold has declined 1.0% to $1,343.50/ozt.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +11.00. Nasdaq futures vs fair value: +28.10.

The stock market is on track for a higher open as the S&P 500 futures trade 11 points above fair value.

Equity futures climbed overnight, responding to an ongoing risk rally in global bourses. Japan's Prime Minister Shinzo Abe stoked risk appetite after indicating that the country's latest stimulus package could total JPY10 trillion. This is the second day of stimulus speculation after PM Abe's LDP gained a supermajority in this past weekend's election. The Bank of England's Mark Carney also added to the stimulus debate after he stated that a monetary response remains available if the country's outlook worsens post Brexit. As a reminder, the Bank of England meets this Thursday.

On the commodities front, OPEC's monthly report facilitated a rebound in crude oil. The collective increased its demand outlook for 2016 and 2017, forecasting that global demand will increase by one million barrels per day by 2017. Currently, WTI crude trades higher by 2.6% ($45.93/bbl; +$1.17). Investors will receive the latest API inventory data after today's close.

In company specific news, Imperva (IMPV 45.50, -2.64) has fallen 5.5% after lowering its guidance for the second quarter below analysts' estimates. The company cited extended sales cycles for its disappointing outlook. However, shares of Imperva have been bolstered by reports suggesting the company has received some takeover interest.

Today's economic data will be limited to Wholesale Inventories (Briefing.com consensus 0.2%) for May, which will cross the wires at 10:00 ET.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: +10.60. Nasdaq futures vs fair value: +27.50.

The S&P 500 futures hover 11 points above fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a broadly higher note. Japan's Nikkei paced the advance for the second consecutive day, rallying 2.5%. The advance occurred amid increasing stimulus hopes after Nikkei reported that the Japanese government plans to cut its 2016 GDP forecast to 2.2% from 3.1%. The yen retreated against the dollar, sending the dollar/yen pair to 104.10. Japan's Prime Minister Shinzo Abe said the planned stimulus package will be over JPY10 trillion, but cabinet spokesman Yoshihide Suga said the actual size of the stimulus package is not yet known.

In economic data:
Japan's Tertiary Industry Activity Index -0.7% month-over-month, as expected (previous 0.7%). June PPI -0.1% month-over-month, as expected (previous 0.2%); -4.2% year-over-year, as expected (previous -4.2%)
China's FDI +5.1% (previous 3.8%)
Australia's June NAB Business Confidence rose to 6 from 3 and June NAB Business Survey rose to 12 from 10

---Equity Markets---

Japan's Nikkei spiked 2.5% near its high from late June. Nine sectors posted gains with financials (+4.7%), technology (+2.8%), and industrials (+2.6%) in the lead while consumer staples (unch) lagged. Toshiba, Daiwa Securities, JTEKT, Mazda Motor, Alps Electric, Dai-ichi Life Insurance, Mitsui Fudosan, and Pioneer gained between 5.2% and 8.6%.
Hong Kong's Hang Seng rallied 1.7% with energy and consumer names in the lead. China Shenhua Energy, China Resources Power, and China Petroleum & Chemical posted gains between 1.8% and 5.7%. Consumer names like Li & Fung, Galaxy Entertainment, Sands China, and Tingyi climbed between 1.8% and 4.6%.
China's Shanghai Composite climbed into the close, ending higher by 1.8%. China Eastern Airlines, China Southern Airlines, and Hainan Airlines gained between 8.3% and 10.1%. SINOPEC Oilfield Service and SAIC Motor posted respective gains of 10.1% and 8.2%.

Major European indices trade mostly higher with Italy's MIB (+3.1%) showing relative strength while UK's FTSE (+0.2%) underperforms. Italian Finance Minister Pier Carlo Padoan said that speculation about a banking crisis is Italy is wrong because the government is taking measures to tackle the issue with non-performing loans. Separately, the International Monetary Fund cut its GDP growth forecast for Italy to 1.0% from 1.1%. The outlook for 2017 was lowered to 1.0% from 1.25%.

In economic data:
Germany's June CPI +0.1% month-over-month, as expected (previous 0.1%); +0.3% year-over-year, as expected (previous 0.3%). June Wholesale Price Index +0.6% month-over-month (expected 0.3%; last 0.9%); -1.5% year-over-year (last -2.3%)

---Equity Markets---

UK's FTSE trades higher by 0.2% with financials showing relative strength while health care names lag. Aviva, Lloyds Banking, Barclays, Standard Life, Prudential, and RBS are up between 2.3% and 3.9%. Conversely, Hikma Pharmaceuticals, AstraZeneca, and GlaxoSmithKline are down between 1.5% and 2.3%.
Germany's DAX has climbed 1.5% amid broad strength. Exporters have been at the forefront of the advance with Daimler, BMW, and Volkswagen up between 3.1% and 4.8%. Financials Deutsche Bank and Commerzbank also outperform, rising 4.9% and 1.9%, respectively.
France's CAC trades up 1.7% with all but two names in the green. ArcelorMittal leads with a 5.7% spike while automakers Peugeot and Renault show respective gains of 5.3% and 3.6%. Growth-sensitive financials like BNP Paribas, Credit Agricole, and Societe Generale show gains between 2.4% and 3.2%.
Italy's MIB has jumped 3.1% with support from financials. Unicredit, Mediobanca, UBI Banca, Banca Pop Emilia Romagna, Unipol, Intesa Sanpaolo, and Banco Popolare show gains between 4.1% and 9.1%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +28.00.

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

In company specific news, Oracle (ORCL 41.15, +0.37) has gained 0.9% after receiving an upgrade to "Outperform" from "Market Perform" at BMO Capital Markets. The firm cited increasing growth prospects for the upgrade. R.R. Donnelley & Sons (RRD 19.74, +1.29) has rallied 7.0% after reports indicated that the company is in talks to merge with Xerox's (XRX 9.50, +0.00) copy division. Elsewhere, Fastenal (FAST 43.60, -1.76) trades lower by 3.9% after missing bottom-line estimates for the quarter.

The U.S. Dollar Index (96.25, -0.32) hovers off its session low as the euro, commodity currencies, and the pound sport gains against the greenback. The single currency has gained 0.4% against the buck (1.1098) while the dollar/Canadian dollar pair trades lower by 0.7% (1.3026). Separately, the dollar has gained 1.1% against the yen (103.90) amid increased speculation regarding future stimulus measures from the Bank of Japan.

8:06 am: [BRIEFING.COM] S&P futures vs fair value: +10.50. Nasdaq futures vs fair value: +27.50.

U.S. equity futures trade higher with the S&P 500 futures hovering 11 points above fair value. Global markets continued their risk rally overnight as investors weighed potential stimulus measures from the Bank of Japan and Bank of England. Japan's Prime Minister Shinzo Abe hinted overnight that a planned stimulus package could total over JPY10 trillion. However, spokesman Yoshihide Suga commented that the actual size of the stimulus package has not been determined. Elsewhere, Bank of England Governor Mark Carney alluded to more stimulus if the United Kingdom's outlook worsens following last month's surprise Brexit vote.

On the home front, crude oil rebounded after OPEC forecast that crude oil demand will increase one million barrels per day in 2017. WTI crude trades higher by 2.7% ($45.96/bbl; +$1.20).

The Treasury complex trades on a lower note as the yield on the 10-yr note rises four basis points to 1.48%.

Economic data will be limited to Wholesale Inventories (Briefing.com consensus 0.2%) for May, which will be released at 10:00 ET.

In U.S. corporate news of note:

Alcoa (AA 10.53, +0.39): +3.9% following the company reporting a top- and bottom-line beat in Q2
Seagate Technology (STX 27.40, +3.31): +13.7% after the company raised its guidance, citing increased demand for its HDD product portfolio
United Continental (UAL 43.00, +0.59): +1.4% following the company reporting that consolidated traffic increased 1.4% while consolidated capacity rose at 0.5% in Q2

Reviewing overnight developments:

Asia-Pacific indices ended on a broadly higher note with Japan's Nikkei +2.5%, Hong Kong's Hang Seng +1.7%, and China's Shanghai Composite +1.8%.
In economic data:
Japan's Tertiary Industry Activity Index -0.7% month-over-month, as expected (previous 0.7%). June PPI -0.1% month-over-month, as expected (previous 0.2%); -4.2% year-over-year, as expected (previous -4.2%)
China's FDI +5.1% (previous 3.8%)
Australia's June NAB Business Confidence rose to 6 from 3 and June NAB Business Survey rose to 12 from 10
In news:
Japan's Nikkei paced the advance amid increasing stimulus hopes.
Nikkei reported that the Japanese government plans to cut its 2016 GDP forecast to 2.2% from 3.1%.
The yen retreated against the dollar, sending the dollar/yen pair to 103.95.
Japan's Prime Minister Shinzo Abe said the planned stimulus package will be over JPY10 trillion
However, cabinet spokesman Yoshihide Suga said the actual size of the stimulus package is not yet known.

European indices trade mostly higher with France's CAC +1.5% and Germany's DAX +1.4%. Elsewhere, the U.K.'s FTSE trades flat while Italy's MIB (+2.0%) shows relative strength.
In economic data:
Germany's June CPI +0.1% month-over-month, as expected (previous 0.1%); +0.3% year-over-year, as expected (previous 0.3%). June Wholesale Price Index +0.6% month-over-month (expected 0.3%; last 0.9%); -1.5% year-over-year (last -2.3%)
In news:
Italian Finance Minister Pier Carlo Padoan said that speculation about a banking crisis is Italy is wrong because the government is taking measures to tackle the issue with non-performing loans.
The International Monetary Fund cut its GDP growth forecast for Italy to 1.0% from 1.1%.
The outlook for 2017 was lowered to 1.0% from 1.25%.

5:56 am: [BRIEFING.COM] S&P futures vs fair value: +10.00. Nasdaq futures vs fair value: +27.00.

5:56 am: [BRIEFING.COM] Nikkei...16096...+386.80...+2.50%. Hang Seng...21225...+344.20...+1.70%.

5:56 am: [BRIEFING.COM] FTSE...6687.35...+4.50...+0.10%. DAX...9972.34...+138.90...+1.40%.

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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