TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 8:55 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: July 18th Monday Trade Results - Profit $625.00
PostPosted: Tue Jul 19, 2016 3:09 am 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)

Attachment:
071816-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+625.00.png
071816-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+625.00.png [ 92.89 KiB | Viewed 252 times ]

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

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $625.00 dollars or +12.50 points, Light Crude Oil CL ($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 @ $625.00 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. 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=2412

The free chat room is not a signal calling trading room. I do not mentor (never have) although I get many requests to do mentoring. There is education but only in members private threads at the forum involving members asking questions (help) about their own trading. Thus, the primary purpose of the free chat room is for you to use as your trade journal so that you can use as valuable feedback and for members to help each other...as in more eyes on the market. Also, you can use the free chat room to ask real-time WRB Analysis questions. Yet, please do not post your brokerage statements in the free chat room. Instead, its highly recommended that you only post your brokerage statements in your private thread for security reasons. The free chat room is on IRC via users request because the IRC servers are located in many different countries, software in many different languages and many different types of social media software can be used to log in. I'm the moderator of the free chat room. Thus, I keep the peace between members and I keep out the trouble makers so that members can peacefully post their observations about the markets, trades and WRB Analysis commentary.

Quote:
All of my real-time posted trades involves price action concepts from the WRB Analysis free study guide, Advance WRB Analysis Tutorial Chapters 4 - 12 and the Volatility Trading Report (VTR) trade signal strategies. Analysis -----> Trade Signals

Also, posted below are direct links to information about my price action trade methodology and trading plan (there's a difference between the two) that enables me to identify key trading areas in the price action that represent changes in supply/demand and volatility along with being able to exploit these changes via WRB Analysis (wide range body/bar analysis). I'm primarily a day trader because it suits my personal lifestyle but I do occasionally swing trade and position trade. Simply, my trade method is applicable for position trading, swing trading and day trading.

Image ##TheStrategyLab Chat Room is free. Members and I use the chat room to post WRB Analysis commentary, real-time trades and to post anything else related to trading. The chat room helps me tremendously in my own trading because I use it to document (journal) general volatility analysis involving WRB Analysis so that I can easily review at a later date my thoughts as I interacted with the markets...info I can not get from my broker statements. Also, this is not a signal calling chat room where a head trader tells you when to buy or sell and I do not have the time/energy/resources to manage a signal calling trading room. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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

Analysis -----> Trade Signals

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

Image Daily Trading Plan Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=296&t=3207 contains brief information about trading plan, market context, brokers, trading time frames, position size management and other discussions.

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

Market Context Summaries

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

Attachment:
071816-Key-Price-Action-Markets.png
071816-Key-Price-Action-Markets.png [ 1.12 MiB | Viewed 234 times ]

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


4:15 pm: [BRIEFING.COM] The stock market endured a sleepy start to the week as the S&P 500 (+0.2%) occupied a narrow nine-point range for the duration of today's session. Investors favored a wait-and-see approach today, adopting caution ahead of the plethora of quarterly reports that are scheduled to be released before the end of the week. Additional focal points impacting today's trade included softening in the dollar, weakness from the oil pit, and strong sector leadership from the heavyweight technology (+0.7%), financial (+0.4%), and consumer discretionary (+0.3%) sectors. The Nasdaq Composite (+0.5%) ended ahead of the S&P 500 (+0.2%) and the Dow Jones Industrial Average (+0.1%).

The major averages began the session on a choppy note as mixed performances from global markets and a downturn in crude oil elicited modest selling pressure. European bourses consolidated overnight, pausing as investors eyed an unsuccessful coup in Turkey. Members of the Turkish military attempted to oust President Recep Tayyip Erdogan over the weekend, beginning their failed attempt shortly ahead of Friday's closing bell. The attempted upheaval was largely shrugged off by global markets as U.S. investors shifted their focus to upcoming quarterly reports and news on the M&A front.

The benchmark index found support near the 2161 area, which also corresponded with a rebound in crude oil. Equities inched higher through the morning as heavily-weighted technology (+0.7%) paced the advance. The influential sector benefited from news that ARM Holdings (ARMH 66.17, +19.09) agreed to be acquired by Softbank (SFTBY 26.22, -2.22). However, the S&P 500 (+0.2%) was unable to clear technical resistance near the 2067 price level and ended modestly beneath that point. Five sectors ended in the green as technology (+0.7%), materials (+0.7%), and financials (+0.4%) outperformed. Conversely, consumer staples (-0.2%), industrials (-0.1%), and energy (-0.1%) rounded out the board.

The PHLX Semiconductor Index (+1.5%) demonstrated relative strength as the price-weighted index moved higher in sympathy with ARM Holdings (ARMH 66.17, +19.09). ARM Holdings rallied 40.6% after announcing that it would be acquired by Softbank (SFTBY 26.22, -2.22) for approximately $31.4 billion. In the broader technology sector (+0.7%), large cap components Facebook (FB 119.37, +2.51) and Alphabet (GOOG 733.78, +13.93) outperformed, gaining 2.2% and 1.9%, respectively. On the flipside, Yahoo! (YHOO 37.95, +0.23) ended behind the sector as investors look ahead to tomorrow evening's quarterly report.

The economically-sensitive financial (+0.4%) space continued its recent winning streak as participants examined a positive earnings report from Bank of America (BAC 14.11, +0.45). The company beat bottom-line estimates for the quarter and reported that trading and sales revenue increased 12.0% year-over-year. Life insurance names also helped lead the group as MetLife (MET 43.09, +0.48) jumped 1.3%. Elsewhere, Dow component Goldman Sachs (GS 163.33, +1.39) moved higher by 1.1% ahead of tomorrow morning's earnings report.

In the consumer discretion space (+0.3%), retail names outperformed, evidenced by the 1.6% advance in the SPDR S&P Retail ETF (XRT 44.44, +0.70). The group traded higher in sympathy with Coach (COH 43.37, +1.07) after Robert W. Baird upgraded the stock to "Outperform" from "Neutral." Meanwhile, Netflix (NFLX 98.81, +0.42) ticked higher by 0.4% ahead of this evening's quarterly results.

The heavily-weighted health care sector (UNCH) finished behind the broader market as the health care plan sub-group underperformed. Dow component UnitedHealth (UNH 140.75, -0.58) finished behind the price-weighted index, slipping 0.4%. The company is scheduled to release its earnings report ahead of tomorrow's open. Additionally, Merck (MRK 59.02, -0.61) lost 1.0% after being downgraded to "Market Perform" from "Outperform" at BMO Capital.

The U.S. Dollar Index (96.55, -0.03) finished narrowly beneath its flat line as commodity currencies, the euro, and the pound each gained ground against the buck. The dollar/Canadian dollar pair ended higher by 0.2% (1.2946) while the single currency gained 0.4% against the dollar (1.1074).

Treasuries ended off their session lows, but yields still showed modest upticks throughout the complex. The yield on the 10-yr note finished at 1.59%, rising three basis points.

Today's trading volume was below with the recent average as fewer than 723 million shares changed hands on the NYSE floor.

Today's economic data was limited to the NAHB Housing Market Index for July:

The NAHB Housing Market Index for July came in at 59 from an unrevised 60 in June while the Briefing.com consensus expected the reading to come in at 61.

Tomorrow's economic data will be limited to Housing Starts (Briefing.com consensus 1165k) and Building Permits (Briefing.com consensus 1150k) for June, which will each be released at 8:30 ET.

Dow Jones +6.4% YTD
Russell 2000 +6.4% YTD
S&P 500 +6.0% YTD
Nasdaq +1.0% YTD

3:30 pm: [BRIEFING.COM]

The dollar index is down -0.03% around the 96.55 level, not appearing to affect commodities overall
Commodities, as measured by the Bloomberg Commodity Index, are down -0.2% at the 86.53 level
Crude oil sees a modest recovery above the $45/barrel handle of support in afternoon trade, closing lower ahead of tomorrow's API data
August crude oil futures fell $0.59 (-1.3%) to $45.35/barrel
EIA petroleum data will be released on Wednesday at 10:30 am ET
API data will be released tomorrow after the bell
Baker Hughes rig count data will be released on Friday at 1 pm ET
Natural gas drops into negative territory in the afternoon, closing near session lows, giving back all of the previous session's gains and more
August natural gas closed $0.04 lower (-1.5%) at $2.72/MMBtu
EIA natural gas inventory data will be released tomorrow at 10:30 am ET
In precious metals, gold sees an afternoon of consolidation after a brief rally, as the dollar index weakens
August gold ended today's session up $1.80 (+0.4%) to $1329.30/oz
Silver sees a modest afternoon rally, closing near its highs but still in the red for the day
September silver closed today's session $0.09 lower (-0.5%) at $20.07/oz
Base metal copper inches higher in afternoon pit trading
September copper closed $0.01 higher (+0.5%) at $2.24/lb

3:00 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the Nasdaq Composite (+0.6%) leads the S&P 500 (+0.3%) and the Dow Jones Industrial Average (+0.1%).

Six sectors trade in the green as the influential technology (+0.8%) sector leads financials (+0.4%) and consumer discretionary (+0.4%). The remaining gainers sport upticks between 0.1% (telecom services) and 0.4% (materials). On the flipside, energy (-0.2%) and consumer staples (-0.1%) trail health care (-0.1%) and industrials (-0.1%).

In the consumer staples sector (-0.1%), beverage names underperform as Monster Beverage (MNST 155.57, -6.03) sinks 3.7%. The stock was downgraded to "Market Perform" from "Outperform" at Wells Fargo. The broader sector shows a gain of 1.0% for the month, leading only countercyclical telecom services (+0.1%; month-to-date: +0.2%) and utilities (+0.3%; month-to-date: -0.7%) over that time.

The U.S. Dollar Index (96.54, -0.04) floats above its session low as commodity currencies, the euro, and the yen each sport losses against the greenback. The dollar/Canadian dollar pair trades lower by 0.2% (1.2948) while the single currency has climbed 0.4% against the buck (1.1072).

2:30 pm:

[BRIEFING.COM] The major indices have backed away from their recent levels as the S&P 500 (+0.2%) inches lower after testing technical resistance near the 2067 price level. Elsewhere, the Russell 2000 (+0.2%) trades in-line with the benchmark index.

In the energy sector (-0.2%) independent oil and gas names demonstrate relative weakness as ConocoPhillips (COP 42.63, -0.31) and EOG Resources (EOG 82.89, -1.21) decline by 0.7% and 1.2%, respectively. Elsewhere, Dow component Exxon Mobil (XOM 94.78, -0.38) trades behind the broader sector as investors weigh the company's proposal to acquire InterOil (IOC 49.73, +2.12). Exxon Mobil offered to acquire the company for $45.00 per share in an all-share transaction. InterOil has deemed Exxon's offer to be a superior offer to its proposed transaction with Oil Search Ltd. (OISHY 51.50, +0.00). Oil Search Ltd. is currently considering its position.

On the commodities front, WTI crude trades lower by 1.4% ($45.33/bbl, -$0.62) ahead of its pit session close at 14:30 ET.

2:00 pm:

[BRIEFING.COM] The major averages have ticked higher in recent trade as the Nasdaq Composite (+0.6%) continues to lead the S&P 500 (+0.2%). The benchmark index trades one point off its session high.

The heavily-weighted health care sector (-0.1%) displays relative weakness as health care plan names and drug manufacturers underperform. Dow component UnitedHealth (UNH 140.22, -1.11) rounds out the price-weighted index ahead its earnings report slated for tomorrow morning. Separately, Aetna (AET 117.98, -0.64) and Humana (HUM 157.93, -0.96) have lost 0.6% apiece. Humana has slipped despite receiving bullish commentary from Jefferies ahead of the session. Separately, Merck (MRK 58.98, -0.64) has lost 1.1% after being downgraded to "Market Perform" from "Outperform" at BMO Capital.

Biotechnology trades slightly ahead of the broader market as the iShares Nasdaq Biotechnology ETF (IBB 273.56 ,+1.03) gains 0.4%. In the sub-group, Regeneron Pharmaceuticals (REGN 380.30, +6.49) outperforms after the FDA granted orphan drug designation to its Ebola medication.

On the commodities front, gold ended its day higher by 0.4% ($1,329.30/ozt; +$1.80). The precious metal has gained 0.7% so far in July.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have taken a leg lower in recent trading, with the Dow Jones Industrial Average dipping into negative territory.

A look inside the Dow shows that UnitedHealth Group (UNH 139.69, -1.64), Merck (MRK 58.95, -0.68), & Chevron (CVX 106.18, -0.85) are underperforming. UnitedHealth is the Dow's top decliner as managed healthcare names underperform while Merck is falling after being downgraded this morning to Market Perform at BMO Capital. Additionally, Chevron is under pressure as the entire energy sector pulls back with crude oil slumping 2% in today's session.

Conversely, Home Depot (HD 136.37, +1.59) is the best-performing Dow component amid strength in consumer discretionary names.

Today's session brings July's DJIA return to 3.3%.

1:15 pm:

[BRIEFING.COM] The stock market trades on a modestly higher note at midday as investors digest the latest batch of quarterly earnings reports and news that Softbank (SFTBY 26.49, -1.95) will acquire ARM Holdings (ARMH 66.50, +19.42). Other factors impacting today's trade include a downturn in oil futures and the outperformance of the heavily-weighted technology (+0.7%), financial (+0.5%), and consumer discretionary (+0.4%) sectors. Currently, the Nasdaq Composite (+0.5%) trades ahead of the S&P 500 (+0.2%) and the Dow Jones Industrial Average (+0.1%).

Index futures inched higher overnight as investors weighed mixed performances from global equity markets and a failed coup attempt in Turkey. Members of the Turkish military attempted to oust President Recep Tayyip Erdogan over the weekend, commencing the failed attempt shortly ahead of Friday's close. The effort was defeated over the weekend and global equity markets have largely shrugged off the event.

The major averages inched higher at the start of the session, restrained in part due to a downturn in crude oil. The energy component slid at the start of the day, briefly surrendering the $45.00/bbl price level. The S&P 500 (+0.2%) found its footing near the 2161 price level as WTI crude trimmed its loss. Currently, WTI crude trades lower by 1.6% ($45.24/bbl, -$0.71). The benchmark index has traversed a narrow eight-point range as five sectors trade in the green. At midday, the heavily-weighted technology (+0.7%), financial (+0.5%), and consumer discretionary (+0.4%) sectors lead while energy (-0.2%), health care (-0.2%), and consumer staples (-0.3%) round out the leaderboard.

The high-beta chipmakers outperform, evidenced by the 1.4% gain in the PHLX Semiconductor Index. ARM Holdings (ARMH 66.50, +19.42) tops the price-weighted index after agreeing to be acquired by Softbank (SFTBY 26.49, -1.95) for approximately $31.4 billion. The terms of the deal represent a 43.0% premium from Friday's closing price. In the broader technology space (+0.7%), heavily-weighted component Apple (AAPL 99.94, +1.17) has climbed 1.2%, briefly reclaiming the psychological $100 price level. Separately, Yahoo! (YHOO 37.79, +0.07) has ticked higher by 0.2% ahead of tomorrow morning's earning report.

Retail names lead in the consumer discretionary space (+0.4%) as the sub-group trades higher in sympathy with Coach (COH 43.54, +1.24). The stock has jumped 2.9% after being upgraded to "Outperform" from "Neutral" at Robert W. Baird. The firm believes that purchasing intent is improving for the company, facilitating a recovery in its comparable store sales.

The economically-sensitive financial sector (+0.4%) trades ahead of the broader market as positive quarterly results from Bank of America (BAC 14.19, +0.53) bolster the sector. The company reported a bottom-line beat ahead of the open and also announced that its sales and trading revenue grew 12.0% year-over-year. Separately, Morgan Stanley (MS 28.05, +0.04) and Goldman Sachs (GS 163.23, +1.59) have gained a respective 0.2% and 1.0% ahead of their quarterly reports later in the week.

The Dow Jones Transportation Average (-0.2%) sports a modest loss as trucking names weigh on the index. JB Hunt (JBHT 81.90, -3.36) has lost 4.0% after missing bottom-line expectations for the quarter and lowering its revenue and operating income guidance for the full year. Conversely, airlines outperform as United Continental (UAL 47.74, +0.31) and Delta Air Lines (DAL 40.26 +0.28) gain 0.7% apiece. United Continental is scheduled to release its quarterly report after tomorrow's close.

The U.S. Dollar Index (96.50, -0.02) has inched back towards its flat line as commodity currencies and the yen sport losses against the buck. The dollar/Canadian dollar pair trades higher by 0.1% (1.2982) while the greenback has gained 1.2% against the yen (106.15). On the flipside, sterling has gained 0.6% against dollar, jumping to the 1.3265 price level.

Treasuries trade off their session lows as the yield on the 10-yr note rises two basis points to 1.58%.

Today's economic data was limited to the NAHB Housing Market Index for July:

The NAHB Housing Market Index for July came in at 59 from an unrevised 60 in June while the Briefing.com consensus expected the reading to come in at 61.0.

Today's data will be capped off with Net Long-Term TIC Flows, which will be released at 16:00 ET.

12:30 pm:

[BRIEFING.COM] The major indices continue to lose their bearings near session highs as the S&P 500 (+0.2%) trades two points off its best level of the day.

The heavyweight industrial sector (-0.2%) hovers below its flat line as machinery names and trucking companies underperform. 3D Systems (DDD 13.37, -1.33) has plunged 9.1% after being downgraded to "Underweight" from "Neutral" at Piper Jaffray. Additionally, Illinois Tool (ITW 110.47, -0.75) and Ingersoll-Rand (IR 67.05, -0.89) have lost 0.7% and 1.3%, respectively.

The Dow Jones Transportation Average (-0.1) has pared a larger loss as airlines outperform in the index. United Continental (UAL 47.70, +0.27) and Delta Air Lines (DAL 40.31, +0.31) have gained 0.6% and 0.8%, respectively. United Continental is scheduled to release its quarterly report after tomorrow's close.

The Treasury complex has slipped to a new low as the yield on the 10-yr note rises five basis points to 1.60%. For the month, the yield on the 10-yr note has risen 11 basis points from its June settlement at 1.49%.

12:00 pm:

[BRIEFING.COM] The stock market hovers near its best level as the Nasdaq Composite (+0.6%) trades ahead of the S&P 500 (+0.2%). The benchmark index has been unable to clear resistance near the 2067 price level so far today.

The economically-sensitive financial sector (+0.4%) trades ahead of the broader market as investors weigh quarterly results from Bank of America (BAC 14.17, +0.51). The money center bank has rallied 3.8% after beating bottom-line estimates for the quarter on in-line revenue. Additionally, the company reported that it generated $3.7 billion in sales and trading revenue, a 12.0% year-over-year increase. Elsewhere, Dow component Goldman Sachs (GS 163.49, +1.86) has gained 1.2% ahead of tomorrow morning's earnings report. The broader sector has gained 3.2% in July, compared to a gain of 3.3% in the benchmark index.

On the commodities front, WTI crude has trimmed its loss to 1.6% ($45.23/bbl; -$0.73) after slipping below the $45.00/bbl price level earlier in the session. Elsewhere, gold continues to sport a modest gain, inching higher by 0.1% ($1,328.50/ozt; +$1.10).

11:35 am:

[BRIEFING.COM] The S&P 500 (+0.2%) has traded sideways in recent action, floating one point off its best level of the day.

In the consumer discretionary space (+0.6%), retail names continue to outperform, evidenced by the 1.6% uptick in the SPDR S&P Retail ETF (XRT 44.44, +0.70). The group continues to move higher in sympathy with Coach (COH 43.44, +1.14). Conversely, Amazon (AMZN 738.75, +3.31) underperforms the broader retail space, inching higher by 0.5%. The online retailer has gained 3.2% in July, compared to a gain of 5.9% in the broader retail ETF over that same period. Separately, Starbucks (SBUX 57.35, -0.06) has declined by 0.1% ahead of this Thursday's earnings report.

The U.S. Dollar Index (96.49, -0.09) hovers near session lows as the euro and the pound extend their leads over the greenback. The single currency has jumped 0.5% against the dollar (1.1080) while cable has climbed 0.9% (1.3300). Separately, the dollar/yen pair trades higher by 1.1%, trading at the 106.05 price level.

11:00 am:

[BRIEFING.COM] The major U.S. indices have marched higher since our last update as the Nasdaq Composite (+0.6%) leads the S&P 500 (+0.3%) and the Dow Jones Industrial Average (+0.2%).

The heavily-weighted technology (+0.8%) sector demonstrates relative strength as the high-beta chipmakers outperform. In the group, ARM Holdings (ARMH 66.91, +19.83) has surged 42.1% after Softbank (SFTBY 27.17, -1.27) agreed to acquire the company for approximately $31.4 billion. This represent a 43.0% premium over Friday's closing price. The chipmaker sub-group has moved higher in sympathy with the name, evidenced by the 1.6% gain in the PHLX Semiconductor Index. Elsewhere, large cap components Apple (AAPL 100.04, +1.26) and Alphabet (GOOG 730.71, +10.89) outperform, jumping 1.3% and 1.5%, respectively. On the flipside, Ericsson (ERIC 7.51, -0.26) has declined by 3.4% after reports insinuated that the company engaged in unscrupulous accounting practices.

Treasuries trade near their session lows as yields rise throughout the complex. The yield on the 10-yr note has risen two basis points to 1.58% while the yield on the 30-yr bond has risen to 2.30% (+3 bps).

10:30 am: [BRIEFING.COM]

The dollar index is trading nearly flat, +0.02% around the 96.60 level
Commodities, as measured by the Bloomberg Commodity Index, are down -0.6% at the 86.20 level
Crude oil drops to session lows ahead of tomorrow's API data after rallying over the weekend on potential supply threats due to an attempted Coupe in Turkey
August crude oil futures are down $0.99 (-2.1%) at $44.96/barrel
EIA petroleum data will be released on Wednesday at 10:30 am ET
API data will be released tomorrow after the bell
Baker Hughes rig count data will be released on Friday at 1 pm ET
Natural gas futures trade near parity with the previous session's close
August natural gas futures are down $0.01 (-0.04%) at $2.76/MMBtu
EIA natural gas inventory data will be released Thursday at 10:30 am ET
In precious metals, gold consolidates around its opening price as the dollar index trades flat
August gold futures are up $4.80 (+0.4%) at $1332.20/oz
Silver trades to session lows as the dollar index trades flat
September silver futures are down $0.14 (-0.7%) at $20.03/oz
Base metal copper drifts lower in morning pit trading
September copper futures are down $0.01 (+0.3%) at $2.23/lb

10:05 am:

[BRIEFING.COM] The major averages have ticked off their lows as the Nasdaq Composite (+0.1%) trades slightly ahead of the S&P 500 (UNCH). The benchmark index trades three points above its worst level of the day.

Just released, the NAHB Housing Market Index for July came in at 59 from an unrevised 60 in June while the Briefing.com consensus expected the reading to come in at 61.0.

Five sectors trade in the green as technology (+0.3%), utilities (+0.3%), and consumer discretionary (+0.2%) lead the financial (+0.1%) and health care (UNCH) spaces. Separately, commodity-sensitive materials (-0.3%) and energy (-0.5%) lead to the downside.

The U.S. Dollar Index (96.54, -0.04) continues to tread water near its flat line as commodity currencies and the yen sport losses against the buck. The dollar/Canadian dollar pair trades higher by 0.2% (1.2997) while the greenback has gained 0.6% against the yen (105.53). On the flipside, sterling has gained 0.5% against dollar, jumping to the 1.3250 price level.

9:45 am:

[BRIEFING.COM] The stock market began its day on a flat note as the Nasdaq Composite (+0.1%) leads the S&P 500 (UNCH) and the Dow Jones Industrial Average (-0.1%).

Six sectors trade in the red as energy (-0.7%) and materials (-0.5%) lead to the downside. The remaining decliners sport losses between 0.1% (consumer discretionary) and 0.3% (industrials). Conversely, financials (+0.1%), technology (+0.2%), and utilities (+0.4%) lead the pack.

In the consumer discretionary space (-0.1%), apparel retailers display relative strength as the group trades higher in sympathy with Coach (COH 43.30, +1.00). The stock is benefiting from an upgrade to "Outperform" from "Neutral" at Robert W. Baird. The broader SPDR S&P Retail ETF (XRT 43.86, +0.11) trades higher by 0.3%.

The Dow Jones Transportation Average (-0.7%) displays relative weakness as JB Hunt (JBHT 83.19, -2.08) weighs on the index. The company reported a bottom-line miss on in-line revenue ahead of the opening bell. Additionally, JB Hunt also lowered its full-year revenue and operating income guidance.

On the commodities front, WTI crude trades lower by 2.3% ($44.92/bbl -$1.03) while gold has ticked higher by 0.5% to $1,334.70/ozt.

9:20 am: [BRIEFING.COM] S&P futures vs fair value: +1.00. Nasdaq futures vs fair value: +4.10.

The stock market is on track for a flat open as the S&P 500 futures trade one point above fair value.

Index futures are little changed as U.S. investors respond to a subdued overnight session. European indices trade modestly lower as investors continue to largely shrug off a failed coup attempt in Turkey. Additionally, a downturn in commodity-related stocks has weighed as oil extends its losses ahead of the U.S. open. Currently, WTI crude trades lower by 1.7% ($45.16/bbl; -$0.79).

On the home front, earnings remain in focus after Bank of America (13.77, +0.11) topped analysts' bottom-line estimates. However, the money center bank also reported that revenue fell 7.2% year-over-year. Earnings will pick up in the coming week with 88 members of the S&P 500 set to release their quarterly reports. On that note, investment brokerages will come into focus as Goldman Sachs (GS 162.20, +0.56) and Morgan Stanley (MS 27.71, -0.30) are scheduled to release their earnings ahead of the bell on Tuesday and Wednesday, respectively.

In company specific news, Cal-Maine Foods (CALM 44.62, +0.47) has jumped 1.1% in pre-market trade as investors weigh a bottom-line beat on in-line revenue. The company's top-line shrank by 24.8% year-over-year, citing headwinds from an extremely volatile egg market. Elsewhere, Hawaiian Electric (HE 30.80, -1.68) has declined by 5.2% after the company and NextEra Energy (NEE 127.58, 0.00) terminated their proposed merger agreement. NextEra will have to pay a $90 million break-up fee to Hawaiian Electric and may need to reimburse the company for up to $5 million.

Today's economic data will be limited to the NAHB Housing Market Index for July (Briefing.com consensus 0.2%) and Net Long-Term TIC Flows for May, which will be released at 10:00 ET and 16:00 ET, respectively.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +6.10.

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

Equity indices in the Asia-Pacific region began the week on a mixed note, but trading ranges were relatively narrow. Japan's Nikkei was closed for Ocean Day, which contributed to limited activity in the market. However, the yen has retreated against the dollar, sending the dollar/yen pair higher by 0.7% to 105.60. Elsewhere, China's June House Prices increased, but the month-over-month rate slowed to 1.8% from 1.9%.

In economic data:
China's June House Prices +7.3% year-over-year (last 6.9%)
New Zealand's Q2 CPI +0.4% quarter-over-quarter (expected 0.5%; last 0.2%); +0.4% year-over-year (consensus 0.5%; last 0.4%)
Singapore's trade surplus narrowed to SGD5.20 billion from SGD6.12 billion

---Equity Markets---

Japan's Nikkei was closed for Ocean Day.
Hong Kong's Hang Seng gained 0.7%. Lenovo paced the rally with a 7.4% spike while property names and financials like Sino Land, New World Development, Hang Lung Properties, BOC Hong Kong, and Hang Seng Bank advanced between 1.0% and 3.1%.
China's Shanghai Composite lost 0.4%. Xinjiang Talimu Agriculture, Xiamen Overseas Chinese Electronic, Lao Feng Xiang, and Henan Zhongyuan Expressway surrendered between 3.9% and 4.5%.

Major European indices trade in mixed fashion with UK's FTSE (+0.3%) showing relative strength while other markets are closer to their flat lines. Regional indices have wavered following a failed coup attempt in Turkey, which took place just as capital markets were closing for the weekend on Friday. Investors did not receive any economic data today and news reports indicate Italian officials will continue working on a plan to set up a bad bank for troubled lenders. The euro has ticked up 0.2% against the dollar to 1.1050.

---Equity Markets---

France's CAC is down 0.5% amid losses in more than half of its components. Sanofi and Nokia Oyj are both down near 1.0% while financials BNP Paribas, Societe Generale, and Credit Agricole are down between 0.4% and 0.9%.
Germany's DAX is lower by 0.2% with Bayer and Deutsche Post responsible for the decline. The two names hold respective losses of 1.9% and 1.0% while most other components trade in positive territory. Deutsche Bank and BMW outperform with respective gains of 0.9% and 0.5%.
UK's FTSE has added 0.3% with ARM Holdings soaring 42.5% after agreeing to be acquired by Softbank for GBP24 billion. Select financials and homebuilders have also shown relative strength with RBS, RSA Insurance, Taylor Wimpey, Persimmon, and Barratt Developments up between 0.9% and 3.3%.

8:32 am: [BRIEFING.COM] S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +6.60.

Equity futures trade little changed as the S&P 500 futures hover four points above fair value.

In company specific news, InterOil (IOC 49.43, +1.82) has gained 3.8% after Exxon Mobil's (XOM 95.00, -0.12) offer to acquire the company was deemed to be a superior offer to an agreement with Oil Search (OISHY 51.50, 0.00). Exxon Mobil offered to acquire InterOil for $45.00 per share in an all share transaction. Separately, Dow component Merck (MRK 59.25, -0.38) has ticked lower by 0.6% after being downgraded to "Market Perform" from "Outperform" at BMO Capital. The firm believes that the stock's current valuation offers a balanced risk/reward ratio.

The U.S. Dollar Index (96.62, +0.03) hovers near its flat line as the euro and the pound each sport modest gains against the greenback. The single currency has gained 0.2% against the buck (1.1049) while sterling has climbed 0.5% against the dollar (1.3251). Conversely, the dollar has gained 0.7% against the yen (105.63) as investors continue to eye potential easing measures from Japan.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: +3.80. Nasdaq futures vs fair value: +6.10.

U.S. equity futures trade on a higher note as the S&P 500 futures float four points above fair value. Global markets are mixed as investors largely shrug off an attempted coup in Turkey. Members of Turkey's military attempted to oust Turkish President Recep Tayyip Erdogan while U.S. capital markets were closing for the weekend on Friday. On the commodities front, WTI crude trades lower by 0.8% ($45.60/bbl, -$0.35) while safe haven gold has ticked lower by 0.1% to $1,326.10/ozt.

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

Today's economic data will be limited to the NAHB Housing Market Index for July (Briefing.com consensus 0.2%) and Net Long-Term TIC Flows for May, which will cross the wires at 10:00 ET and 16:00 ET, respectively.

In U.S. corporate news of note:

ARM Holdings (ARMH 67.50, +20.42): +43.4% after Softbank (SFTBY 28.44, 0.00) offered to acquire the company for approximately $31.4 billion
Bank of America (BAC 13.60, -0.06): -0.4% following the company reporting a bottom-line beat on in-line revenue
Groupon (GRPN 3.81, +0.32): +9.2% after the stock was upgraded to "Overweight" from "Neutral" at Piper Jaffray
Hasbro (HAS 86.98, +1.48): +1.7% following the company reporting a top- and bottom-line beat for Q2
3D Systems (DDD 14.13, -0.58): -3.8% after the name was downgraded to "Underweight" from "Neutral" at Piper Jaffray

Reviewing overnight developments:

Asia-Pacific indices began the week on a mixed note with Hong Kong's Hang Seng +0.7% and China's Shanghai Composite -0.4%. Separately, Japan's Nikkei was closed for Ocean Day.
In economic data:
China's June House Prices +7.3% year-over-year (last 6.9%)
New Zealand's Q2 CPI +0.4% quarter-over-quarter (expected 0.5%; last 0.2%); +0.4% year-over-year (consensus 0.5%; last 0.4%)
Singapore's trade surplus narrowed to SGD5.20 billion from SGD6.12 billion
In news:
Japan's Nikkei was closed for Ocean Day, which contributed to limited activity in the market.
However, the yen has retreated against the dollar, sending the dollar/yen pair higher by 0.8% to 105.72.
Elsewhere, China's June House Prices increased, but the month-over-month rate slowed to 1.8% from 1.9%.

European indices trade on a flat note as the U.K.'s FTSE +0.4% leads Germany's DAX +0.1%, and France's CAC -0.1%.
In news:
Regional indices have wavered following a failed coup attempt in Turkey.
The attempted coup took place just as capital markets were closing for the weekend on Friday.
Investors did not receive any economic data, but news reports indicated that Italian officials will continue working on a plan to set up a bad bank for troubled lenders.
The euro has ticked up 0.3% against the dollar to 1.1057.

5:58 am: [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +1.00.

5:57 am: [BRIEFING.COM] FTSE...6685.29...+16.10...+0.20%. DAX...10051.86...-15.00...-0.20%.

5:55 am: [BRIEFING.COM] Nikkei...Holiday...+0.70%. Hang Seng...21803...+143.90...+0.70%.

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

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

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


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

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 4 guests


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

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