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 Post subject: August 2nd Tuesday Trade Results - Profit $2,687.50
PostPosted: Wed Aug 03, 2016 12:24 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)

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

Attachment:
080216-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2687.50.png
080216-wrbtrader-Price-Action-Trading-PnL-Blotter-Profit+2687.50.png [ 94.73 KiB | Viewed 292 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 @ $2,687.50 dollars or +53.75 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $2,687.50 dollars

Russell 2000 Emini TF Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ The ICE
S&P 500 Emini ES Futures: 1 tick or 0.25 = $12.50 dollars and there's more contract information @ CMEGroup
Light Crude Oil CL (WTI) Futures: 1 tick or 0.01 = $10.00 dollars and there's more contract information @ CMEGroup
Gold GC Futures: 1 tick or 0.10 = $10.00 dollars and there's more contract information @ CMEGroup
EuroFX 6E Futures: 1 tick or 0.0001 = $12.50 dollars and there's more contract information @ CMEGroup

Today's Trade Log: All of my live trades are posted real-time in the timestamp ##TheStrategyLab free chat room. The live trade is posted 3.2 seconds on average after the trade confirmation via an auto script to minimize delays in posting of my trades. You can read today's price action trade journal about my trades (e.g. time, price entry, contract size, price exit, market analysis) as the trade traversed to its completion. In addition, sometimes I'll post real-time trading tips in the free ##TheStrategyLab chat room involving WRBs, WRB Hidden GAPs, Key Market Events (KME), Tutorial Chapters 2 & 3, WRB Zones, Reaction Highs/Lows, Contracting Volatility or Expanding Volatility. Its all archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=159&t=2425

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=300&t=3238 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 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.

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


4:15 pm: [BRIEFING.COM] The stock market ended the Tuesday affair on a lower note as the key U.S. indices moved lower lockstep with global bourses. Today's decline was facilitated by disappointment surrounding Japan's latest fiscal stimulus package and continued weakness from European banking names. Additionally, a failed rebound attempt in oil and the underperformance of heavily-weighted technology (-0.8%), industrials (-0.9%), financials (-0.9%), and consumer discretionary (-1.5%) contributed to today's loss. The Nasdaq Composite (-0.9%) settled behind the S&P 500 (-0.6%) and the Dow Jones Industrial Average (-0.5%).

U.S. equities began the day under pressure, responding to losses from Japan's Nikkei (-1.5%) and European markets. In Japan, Prime Minister Shinzo Abe's latest round of stimulus elicited a sell-the-news response as participants eyed limited direct stimulus. Separately, weak earnings results from Commerzbank kept pressure on European banks while Deutsche Bank (DB 12.58, -0.49) and Credit Suisse (CS 10.81, -0.53) lost their spots in the Euro Stoxx 50 Index (-2.0%).

The major averages pulled back through the afternoon as oil and equities yielded to selling pressure in the broader market. The energy component trimmed an early advance, falling into negative territory near midday. WTI crude finished its session lower by 1.5% ($39.49/bbl; -$0.60), extending its weekly loss to 5.0%. On a side note, investors will receive the latest stockpile data from the American Petroleum Institute this evening while the Department of Energy's more influential stockpile data will be release tomorrow at 10:30 ET.

The S&P 500 (-0.6%) finished off its worst level of the day, reclaiming technical support near the 2152/2153 price level. However, nine sectors finished in the red with technology (-0.8%), industrials (-0.9%), financials (-0.9%), and consumer discretionary (-1.5%) rounding out the leaderboard. The remaining decliners finished with losses between 0.1% (consumer staples) and 0.6% (utilities). Conversely, energy (+0.9%) ended with the only gain.

The consumer discretionary space (-1.5%) displayed broad-based weakness as Ford (F 11.94, -0.54) and General Motors (GM 29.93, -1.37) weighed among auto names. The two fell 4.4% apiece after July U.S. auto sales disappointed. Retail names also underperformed in the group, evidenced by the 2.5% decline in the SPDR S&P Retail ETF (XRT 43.80, -1.13).

Airlines underperformed in the industrial sector (-0.9%) as the U.S. Global Jets ETF (JETS 21.63, -0.92) lost 4.1%. Delta Air Lines (DAL 36.39, -3.09) pressured the ETF after reporting that passenger revenue per available seat mile declined 7.0% in July. This missed prior guidance given by the airline. Separately, Emerson (EMR 53.03, -2.75) fell 4.9% after missing top- and bottom-line estimates for the quarter and lowering its full-year guidance.

In the technology space (-0.8%), top-weighted Apple (AAPL 104.48, -1.57) was under pressure after being downgraded to "Outperform" from "Buy" at Daiwa. On a side note, the tech giant sports a gain of 8.1% since reporting earnings on July 26. Conversely, data storage names underperformed as Seagate Technology (STX 30.65, -1.78) lost 5.5%. Seagate Technology released its earnings report ahead of today's session, showing in-line results with its pre-announcement from July 11. The high-beta chipmakers underperformed in the group, evidenced by the 1.6% decline in the PHLX Semiconductor Index.

Biotechnology demonstrated relative strength in the health care sector (-0.3%) as the iShares Nasdaq Biotechnology ETF (IBB 294.69, +0.62) rose 0.2%. The group benefited from intraday reports indicating that Allergan (AGN 250.75, -4.11) and Merck (MRK 58.33, -0.33) may be interested in acquiring Biogen (BIIB 330.11, +28.28). In the broader sector, Dow component Pfizer (PFE 36.39, -0.92) rounded out the price-weighted index after reporting a slight beat.

The U.S. Dollar Index (95.08, -0.63) finished off its worst level of the day, but the euro, pound, and yen each finished with gains against the greenback. The single currency jumped 0.5% against the greenback (1.1223) while sterling rallied 1.3% against the dollar (1.3345). Separately, the dollar/yen pair finished lower by 1.5% (100.90) as investors responded to the latest fiscal stimulus plan out of Japan.

The Treasury complex ended on a mixed note, but the group finished off its worst level of the day. The yield on the 10-yr note ended higher by two basis point (1.55%) after backtracking from the 1.57% (+4 bps) level.

Participation was above the recent average as more than 916 million shares changed hands on the NYSE floor.

Today's economic data included June Personal Income/Personal Spending reports and Core PCE Prices for June:

Personal income increased 0.2% in June (Briefing.com consensus +0.3%) on the heels of a 0.2% increase for May.
The improvement was driven largely by a 0.3% increase in wages and salaries.
Personal spending was up 0.4% (Briefing.com consensus +0.3%) on top of a 0.4% increase for May.
The personal savings rate fell to 5.3% in June from 5.5% in May.
The PCE Price Index increased 0.1% and the core PCE Price Index, which excludes food and energy, also rose 0.1% (Briefing.com consensus +0.2%).
On a year over-year basis, both the PCE Price Index and Core PCE Price Index held steady versus May, up 0.9% and 1.6%, respectively.

Tomorrow's economic data will include the 7:00 ET release of the weekly MBA Mortgage Index. Separately, the ADP Employment Change Report (Briefing.com consensus 165k) and ISM Services for July (Briefing.com consensus 55.8) will cross the wires at 8:15 ET and 10:00 ET, respectively.

Russell 2000 +5.8% YTD
S&P 500 +5.5% YTD
Dow Jones +5.1% YTD
Nasdaq Composite +2.6% YTD

3:30 pm: [BRIEFING.COM]

The dollar index plunges -0.7%, currently trading around the 95.07 level
Commodities, as measured by the Bloomberg Commodity Index, are down -0.2% at 82.73
Crude continues its slide, ending near 5-month lows ahead of tonight's API data
September crude oil futures fell $0.60 (-1.5%) to $39.49/barrel
API data will be released today after the bell
EIA petroleum storage data will be released tomorrow at 10:30 am ET
Baker Hughes rig count data will be released on Friday at 1 pm ET
Natural gas extends yesterday's losses, ending near session lows in afternoon pit trading
September natural gas closed $0.04 lower (-1.4%) at $2.73/MMBtu
EIA natural gas data will be released Thursday at 10:30 am ET
In precious metals, gold ends near session highs as the dollar index takes a beating
December gold ended today's session up $12.70 (+0.9%) to $1372.50/oz
Silver consolidates near highs of the day, moving in tandem with gold as the dollar index sees a notable drop
September silver closed today's session $0.19 higher (+0.9%) at $20.69/oz
Base metal copper inches higher, adding onto yesterday's gains in afternoon pit trading
September copper closed $0.01 higher (+0.5%) at $2.21/lb

2:55 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the Nasdaq Composite (-0.8%) trails the S&P 500 (-0.7%) and the Dow Jones Industrial Average (-0.6%). The move higher in the broader market corresponded with a rebound in the biotechnology sub-group.

Nine sectors trade in the red as industrials (-0.8%), technology (-0.9%), financials (-0.9%), and consumer discretionary (-1.3%) round out the leaderboard. The remaining decliners sport losses between 0.1% (consumer staples) and 0.8% (telecom services). Conversely, energy (+0.1%) trades modestly above its flat line.

In the health care sector (-0.2%), biotechnology rebounded on reports indicating that Allergan (AGN 253.08, -1.77) and Merck (MRK 58.69, +0.03) may be interested in acquiring Biogen (BIIB 323.52, +21.19). At this juncture, the iShares Nasdaq Biotechnology ETF (IBB 295.37, +1.30) trades higher by 0.4% after sliding as much as 1.9% during today's session.

WTI crude ended its day lower by 1.5% ($39.49/bbl; -$0.60), extending its weekly decline to 5.0%.

2:30 pm:

[BRIEFING.COM] The S&P 500 (-0.7%) has inched higher in recent trade as the index ticks above the 2152/2153 price level.

The commodity-sensitive energy sector (UNCH) trades ahead of the broader market as WTI crude trades lower by 1.3% ($39.53/bbl; $-0.53) ahead of its pit session close at 14:30 ET. The broader sector sports a weekly loss of 3.3%, which compares to a decline of 4.9% in oil over that same time. On a side note, investors will receive the latest stockpile data from the American Petroleum Institute at 16:35 ET today. Meanwhile, the Department of Energy's more influential stockpile data will cross the wires tomorrow at 10:30 ET.

In the energy space, Williams Companies (WMB 23.64, +1.11) trades higher by 4.9% after announcing plans to cut its annual dividend payout to $0.80 per share from $2.56 per share. The company also announced a bottom-line miss and revealed that it would be stepping up its investment into Williams Partners (WPZ 37.00, +2.32). Conversely, Dow component Exxon Mobil (XOM 86.02, +0.16) outperforms inside the price-weighted index as the stock trims its post-earning loss to 4.6%. Exxon reported top- and bottom-line misses ahead of Friday's session.

2:00 pm:

[BRIEFING.COM] The major averages hover above their session lows as the Nasdaq Composite (-1.2%) trades behind the S&P 500 (-0.9%) and the Dow Jones Industrial Average (-0.8%). The benchmark index trades three points off its worst level of the day.

The technology space (-1.1%) has ticked higher in recent action, but remains slightly behind the broader market. In the group, data storage names underperform as Western Digital (WDC 44.54, -1.53) and Seagate Technology (STX 30.55, -1.88) lose 3.3% and 5.8%, respectively. Seagate Technology released its earnings report ahead of today's session. The company beat bottom-line estimates for the quarter and announced that it would maintain its current dividend. Recall that the company pre-announced results on July 11 and has gained 26.8% since that date. However, for the year, the stock remains down 16.7%, which compares to a gain of 5.9% in the broader technology sector.

Conversely, payment processing names outperform in the space as Visa (V 78.16, -0.10) and MasterCard (MA 95.15, +0.08) hover near their respective flat lines.

On the commodities front, gold ended its pit session higher by 0.9% ($1,372.50/ozt; +$12.70).

1:35 pm:

[BRIEFING.COM] The major U.S. indices have continue to trend lower since our last update, with equities resting just north of their session lows.

A look inside the Dow Jones Industrial Average shows that Pfizer (PFE 36.24, -1.07), Apple (AAPL 104.11, -1.94), and DuPont (DD 68.14, -1.21) are underperforming. Pfizer is leading the Dow lower following its Q2 results as health care underperforms while Apple is under pressure after being downgraded this morning at Daiwa Securities.

Conversely, Procter & Gamble (PG 86.55, +0.14) is the best-performing Dow component following the release of its quarterly earnings. P&G delivered better than expected fiscal fourth quarter results while offering mixed fiscal 2017 guidance.

Today's pullback has trimmed 2016's DJIA gains to 4.8%

1:10 pm:

[BRIEFING.COM] The stock market trades on a lower note at midday as the major indices pull back from their recent all-time highs. U.S. equities followed global bourses lower, impacted by a negative response to Japan's fiscal stimulus package and an extended downturn in European banking names. Other focal points influencing today's trade include a failed rebound in crude oil, softening in the dollar, and weakness from the heavily-weighted technology (-1.1%), industrial (-1.1%), and consumer discretionary (-1.4%) sectors. At midday, the Nasdaq Composite (-1.2%) trades behind the S&P 500 (-0.9%) and the Dow Jones Industrial Average (-0.7%).

Equity futures were under pressure this morning as investors responded to a negative bias in global markets. Japan's Nikkei (-1.5%) underperformed as the country's latest stimulus package was met with a sell-the-news reaction. Prime Minister Shinzo Abe announced a JPY28 trillion stimulus package overnight, but reports indicated that direct stimulus will be limited to JPY7.5 trillion. Separately, European banks underperformed for the second consecutive session as disappointing earnings results from Commerzbank weighed on the group.

U.S. indices stumbled out of the gate as the broader market succumbed to early selling pressure. The benchmark index struggled to find support in the early going, but eventually found its bearings near the 2152 price level. The S&P 500 (-0.8%) managed to hold that level despite a reversal in crude oil. The energy component began the session with a modest gain, but ran out of traction shortly before midday. At this juncture, WTI crude trades lower by 1.8% ($39.37/bbl; -$0.69), extending its weekly decline to 5.3%.

The benchmark index trades near its session low, violating technical support near the 2152/2153 price level. All ten sectors trade below their flat lines as technology (-1.1%), financials (-1.1%), industrials (-1.1%), and consumer discretionary (-1.5%) round out the leaderboard. The remaining decliners sport losses between 0.3% (consumer staples) and 0.7% (utilities).

The consumer discretionary space (-1.5%) displays broad-based weakness as auto manufacturers, cruise ship operators, and retailers underperform. Ford (F 11.99, -0.48) and General Motors (GM 30.05, -1.24) display relative weakness after their U.S. July auto sales disappointed investors. Royal Caribbean (RCL 67.00, -4.86) has tumbled 6.8% after missing top-line estimates for the quarter and lowering its full-year outlook below consensus. Separately, the SPDR S&P Retail ETF (XRT 43.85, -1.08) has declined by 2.4%.

Biotechnology demonstrates relative weakness in the health care sector (-0.9%) as the iShares Nasdaq Biotechnology ETF (IBB 289.27, -4.80) slips 1.6%. In the broader sector, Dow component Pfizer (PFE 36.34, -0.97) sports the largest loss inside the price-weighted index. The company beat analysts' estimates for the quarter, but likely came under pressure as investors eye a 12.6% year-to-date gain. This compares to a yearly gain of 4.1% in the broader health care sector.

The Dow Jones Transportation Averages (-2.3%) shows sharp losses as airlines weigh on the index. The U.S. Global Jets ETF (JETS 21.71, -0.85) has lost 3.8% as disappointing revenue metrics from Delta Air Lines (DAL 36.58, -2.90) weigh on the ETF. Conversely, Expeditors International (EXPD 51.46, +1.87) tops the index after beating bottom-line estimates for the quarter.

The U.S. Dollar Index (95.06, -0.66) hovers near its session low as the euro, pound, and yen gain ground against the buck. The euro/dollar pair trades higher by 0.6% (1.228) while the pound has jumped 1.2% against the buck (1.3341). Separately, the dollar has lost 1.7% against the yen (100.70) as investors ruminate over the latest fiscal stimulus measures out of Japan.

The Treasury complex trades on a mixed note, but the group sits off its worst level of the day. The yield on the 10-yr note remains flat (1.52%) while the yield on the 2-yr note has slipped one basis point to 0.67%.

Today's economic data included June Personal Income/Personal Spending reports and Core PCE Prices for June:

Personal income increased 0.2% in June (Briefing.com consensus +0.3%) on the heels of a 0.2% increase for May.
The improvement was driven largely by a 0.3% increase in wages and salaries.
Personal spending was up 0.4% (Briefing.com consensus +0.3%) on top of a 0.4% increase for May.
The personal savings rate fell to 5.3% in June from 5.5% in May.
The PCE Price Index increased 0.1% and the core PCE Price Index, which excludes food and energy, also rose 0.1% (Briefing.com consensus +0.2%).
On a year over-year basis, both the PCE Price Index and Core PCE Price Index held steady versus May, up 0.9% and 1.6%, respectively.

12:30 pm:

[BRIEFING.COM] The S&P 500 (-0.8%) has inched off the 2152 price level for a second time as the benchmark index trails the Dow Jones Industrial Average (-0.6%). Separately, the domestically-facing Russell 2000 (-1.3%) underperforms.

The influential technology sector (-0.9%) trades slightly behind the broader market as heavily-weighted Facebook (FB 122.55, -0.75) and Apple (AAPL 104.34, -1.71) weigh on the space. Facebook sports a loss of 1.4% after unveiling Instagram Stories, which is expected to compete with privately-held Snapchat. However, the stock has declined 4.5% since notching a new all-time intraday high on July 28. Apple has also been under pressure, but continues to sport a gain of 7.9% since reporting earnings on July 26. Separately, Citrix Systems (CTXS 84.01, -2.61) has slid 3.0% after Arete Research voiced bearish commentary on the name.

The high-beta chipmakers demonstrate relative weakness, evidenced by the 1.6% loss in the PHLX Semiconductor Index. Integrated Device (IDTI 20.05, -2.31) rounds out the price-weighted index after disappointing guidance overshadowed an in-line quarter. The stock has also received several downgrades and price target revision following the release of its report.

12:00 pm:

[BRIEFING.COM] The major indices have ticked lower since our last update as the Nasdaq Composite (-1.1%) remains behind the S&P 500 (-0.8%) and the Dow Jones Industrial Average (-0.6%). The broader market has been pressured as crude oil reverses.

The economically-sensitive financial sector (-0.9%) demonstrates broad-based weakness as the sub-group trades lower in sympathy with European banking names. The group has been under pressure after Commerzbank disappointed investors with its quarterly report. On that note, Deutsche Bank (DB 12.61, -0.45) and Credit Suisse (CS 10.85, -0.49) have declined by 3.4% and 4.4%, respectively.

In the sector, Morgan Stanley (MS 28.01, -0.48) demonstrates relative weakness, pulling back from its post-Brexit rally. The stock has jumped 18.6% since notching a multi-month low on June 27. This compares to a gain of 9.1% in the broader Financial Sector SPDR ETF (XLF 2340, -0.19) over that same time.

On the commodities front, WTI crude trades lower by 1.5% ($39.47/bbl; -$0.61) while gold has jumped 1.0% to $1,373.40/ozt.

11:30 am:

[BRIEFING.COM] The S&P 500 (-0.7%) has ticked higher in recent action, inching off support near the 2152 area.

The Dow Jones Transportation Averages (-1.6%) shows sharp losses as airlines weigh on the index. The U.S. Global Jets ETF (JETS 21.86, -0.69) sports a loss of 3.1% as disappointing revenue metrics from Delta Air Lines (DAL 37.19, -2.29) weigh on the sub-group. Conversely, Expeditors International (EXPD 51.77, +2.18) tops the index after beating bottom-line estimates for the quarter. The logistics company reported that air freight tonnage volume increased 2.0% while ocean container volume declined by 1.0%.

In the industrial sector (-0.9%), Emerson (EMR 53.18, -2.60) displays relative weakness after missing top- and bottom-line estimates for the quarter and lowering its full-year guidance. The company reported that sales were negative in most regions, but European sales came in flat.

Treasuries have inched off their lows, but most issues continue holding losses. The yield on the 10-yr note remains higher by two basis point (1.54%) while the yield on the 2-yr note sits unchanged at 0.68%.

11:00 am:

[BRIEFING.COM] The major indices have continued pulling back in recent action as the S&P 500 (-0.8%) tests support near the 2152 price level. Separately, the Nasdaq Composite (-1.1%) trades behind the broader market amid weakness in the technology and biotechnology sub-groups.

The heavily-weighted health care sector (-0.8%) trades in-line with the broader market, masking relative weakness in biotechnology. The iShares Nasdaq Biotechnology ETF (IBB 289.77, -4.30) trades lower by 1.5%, trimming its post-Brexit rebound. The ETF has rallied 20.1% off its June 27 low, which compares to a gain of 9.7% in the broader Healthcare SPDR ETF (XLV 75.04, -0.64) over that time. In the sub-group, Mylan Labs (MYL 45.79, -0.95) underperforms after Meda (MDABY 18.03, 0.00) approved Mylan's tender offer.

Dow component Pfizer (PFE 36.38, -0.93) rounds out the price-weighted index after topping analysts' estimates for the quarter and reaffirming its full-year outlook. However, the company sports a year-to-date gain of 12.7% while the broader health care sector has advanced 4.2% so far in 2016.

On the commodities front, WTI crude trades higher by 0.4% ($40.22/bbl; +$0.16) while gold has gained 1.0% ($1,372.90/ozt, +$13.30).

10:30 am: [BRIEFING.COM]

The dollar index is down -0.6% around the 95.18 level, boosting commodities
Commodities, as measured by the Bloomberg Commodity Index, +0.6% around the 83.38 level
Crude oil eases off 4-month lows hit in the previous session, finding support above the $40.00/barrel handle
September crude oil futures are up $0.51 (+1.3%) around $40.57/barrel
API data will be released today after the bell
EIA petroleum data will be released tomorrow at 10:30 am ET
Monthly IEA data will be released Aug 11
Baker Hughes rig count data will be released on Friday at 1 pm ET
Natural gas inches modestly lower, extending yesterday's losses in morning pit trading
August natural gas futures are down $0.01 (-0.1%) at $2.77/MMBtu
EIA natural gas data will be released Thursday at 10:30 am ET
In precious metals, gold rallies to fresh session highs as the dollar plummets
December gold futures are up $13.00 (+1.0%) at $1372.60/oz
Silver futures follow gold to rally to fresh highs of the day as the dollar index exhibits notable weakness
September silver futures are up $0.39 (+1.9%) at $20.74/oz
Base metal copper inches higher in morning pit trading
September copper futures are up $0.01 (+0.5%) at $2.23/lb

10:00 am:

[BRIEFING.COM] The major averages have ticked lower in recent action as the Nasdaq Composite (-0.4%) trails the S&P 500 (-0.3%). The benchmark index trades one point above its session low.

The leaderboard remains little changed as consumer discretionary (-0.8%) and utilities (-0.8%) continue to sport the largest losses. The remaining decliners show losses between 0.1% (consumer staples) and 0.5% (consumer staples).

In the consumer discretionary space (-0.7%), automakers demonstrate relative weakness as Ford Motor (F 12.17, -0.31) and General Motors (GM 30.34, -0.96) decline by 2.4% and 3.0%, respectively. The auto manufacturers reported that year-over-year total vehicles sales declined a respective 2.8% and 1.9% in July.

The U.S. Dollar Index (95.16, -0.55) trades near its worst level of the day as the euro, pound, and yen each gain against the greenback. The single currency has gained 0.5% against the buck (1.1215) while sterling has jumped 0.8% against the dollar (1.3282). Separately, the dollar/yen pair trades lower by 1.2% (101.24) as investors continue to weigh the latest fiscal stimulus out of Japan.

9:45 am:

[BRIEFING.COM] The stock market began the day on a lower note as the Nasdaq Composite (-0.3%) trades slightly behind the the S&P 500 (-0.2%) and the Dow Jones Industrial Average (-0.2%).

Eight sectors trade in the red as utilities (-0.7%) and consumer discretionary (-0.7%) pace the retreat. The remaining decliners sport losses between 0.2% (materials) and 0.5% (industrials). Conversely, consumer staples (+0.1%) and energy (+1.1%) show the only gains.

In the consumer staples space (+0.1%), drug retailers display relative strength as CVS Health (CVS 98.18, +4.69) trades higher by 5.0%. The company beat bottom-line estimates for the quarter and raised its full-year earnings estimates. The company also reported that its top line rose 17.6% year-over-year, but revenue results missed analysts' estimates.

Airline names underperform in the industrial sector (-0.5%) after Delta Air Lines (DAL 38.01, -1.47) reported that July passenger revenue per available seat mile declined by 7.0% in July. This missed prior guidance, which called for passenger revenue to fall between 4.0% and 6.0% in July and August.

On the commodities front, WTI crude trades higher by 1.9% ($40.82/bbl; +0.77) while gold has gained 0.8% ($1,370.10/ozt, +$10.50).

9:15 am: [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: -10.90.

The stock market is on track for a flat start as the S&P 500 futures trade four points below fair value.

Global markets tilted to the downside overnight as investors eyed the latest government stimulus package out of Japan and a continued downturn in European banking names. Investors adopted a sell-the-news approach when confronted with Prime Minister Shinzo Abe's latest round of stimulus. The spending package amounts to JPY28 trillion, but reports indicate that direct stimulus will be limited to JPY7.5 trillion. The yen strengthened against major currencies, sending the dollar/yen pair lower by 1.1% to 101.32. In Europe, weak earnings results from Commerzbank have kept pressure on European banks as Deutsche Bank (DB 12.62, -0.45) and Credit Suisse (CS 10.91, -0.43) decline by 3.4% and 3.8%, respectively.

The latest U.S. inflation reading did not spark concerns of a sooner-than-expected interest rate hike. Core PCE Prices rose 0.1% (Briefing.com consensus +0.2%), showing a year-over-year increase of 1.6%. This figure remains under the Fed's long run inflation target of 2.0%. Tomorrow and Friday, participants will receive further data of interest to the Fed with the ADP Employment Change Report (Briefing.com consensus 165k) and the Employment Situation Report for July (Briefing.com consensus 185k) set to be released.

In company specific news, Dow component Pfizer (PFE 36.67, -0.64) trades lower by 1.7% after topping analysts' estimates for the quarter and reaffirming its earnings outlook. However, the stock has risen 13.6% this year, compared to a gain of 5.0% in the broader sector. CVS Health (CVS 96.11, +2.62) trades higher by 2.8% after beating bottom-line estimates for its quarter and raising its earnings guidance for the year. Finally, AmerisourceBergen (ABC 87.00, +1.46) has gained 1.7% after reporting an in-line quarter and raising its earnings outlook for the year.

There is no further economic data of note on tap for today, but auto & truck sales for July will be released throughout today's session.

8:56 am: [BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -12.10.

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

Equity indices across the Asia-Pacific region ended Tuesday on a mostly lower note. The Reserve Bank of Australia announced a 25-basis point cut to its key interest rate, which is now at 1.50%. The rate cut was widely expected due to softening trade and housing data. Market participants showed some concern over the accompanying policy statement, which left little room for additional cuts. In Japan, Prime Minister Shinzo Abe officially unveiled the latest stimulus measures, but the yen rallied to the 101.35 level against the dollar.

In economic data:
Australia's June Building Approvals -2.9% month-over-month (expected 0.5%; last -5.4%) and June trade deficit widened to AUD3.20 billion from AUD2.42 billion (expected deficit of AUD2.00 billion)
South Korea's July CPI +0.1% month-over-month (expected 0.2%; last 0.0%); +0.7% year-over-year (consensus 0.8%; last 0.8%)
New Zealand's Inflation Expectations 1.7% quarter-over-quarter (last 1.6%)

---Equity Markets---

Japan's Nikkei lost 1.5% with all ten sectors ending in the red. Energy (-3.1%), financials (-3.0%), and consumer discretionary (-2.4%) paced the retreat while consumer staples (-0.6%) outperformed. Mitsubishi UFJ Financial, Denso, Sumitomo Mitsui Financial, NGK Insulators, Isuzu Motors, and Dentsu lost between 3.1% and 5.9%.
Hong Kong's Hang Seng was closed.
China's Shanghai Composite climbed into the close, rising 0.6%. Shanghai Dazhong Public Utilities, Tianjin Global Magnetic Card, Shanghai Lansheng, and Shanghai New World gained between 7.3% and 9.5%.

Major European indices trade lower across the board with Spain's IBEX (-2.4%) pacing the retreat. Bank shares have extended yesterday's losses, which puts them at the forefront of today's retreat. The euro has edged up 0.4% to 1.1204 against the dollar. For its part, the pound has climbed 0.8% to 1.3281 versus the greenback.

In economic data:
Eurozone June PPI +0.7% month-over-month (expected 0.4%; last 0.6%); -3.1% year-over-year (consensus -3.5%; last -3.8%)
UK's July Construction PMI 45.9 (consensus 43.8; last 46.0)
Spain's Unemployment Change -84,000 (expected -70,000; last -124,300)
Swiss June Retail Sales -3.9% year-over-year (consensus -2.0%; last -1.7%) and July SVME PMI 50.1 (consensus 51.7; last 51.6)

---Equity Markets---

UK's FTSE is lower by 0.4% with financials like Barclays, RBS, Lloyds Banking, and Standard Chartered down between 1.7% and 2.8%. Select consumer names have shown relative strength with InterContinental Hotels, Unilever, Imperial Brands, and Burberry up between 0.8% and 3.5%.
Germany's DAX has given up 1.3% with Commerzbank and Deutsche Bank pacing the slide. The two hold respective losses of 8.2% and 3.6%. Exporters have also struggled with Volkswagen, Daimler, and BMW down between 1.7% and 3.4%.
France's CAC trades down 1.4%. ArcelorMittal leads the slide with a 5.9% decline while BNP Paribas and Societe Generale show respective losses of 3.7% and 3.2%. On the upside, Veolia Environnement and Vinci are both up near 0.5%.
Spain's IBEX has slid 2.4% with Banco Popular, Santander, BBVA, Banco Sabadell, Caixabank, Bankia, and Bankinter falling between 2.3% and 5.2%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -4.50. Nasdaq futures vs fair value: -12.60.

Equity futures are little changed as investors digest largely in-line PCE data. The S&P 500 futures trade five points below fair value.

June personal income rose 0.2% while the Briefing.com consensus expected the reading to come in at 0.3%. Meanwhile, June personal spending came in higher by 0.4%, which compares to the 0.3% uptick called for by the Briefing.com consensus. May's Personal Spending reading was left unrevised at 0.4%.

Separately, Core PCE prices for June were higher by 0.1%, which compares to the the Briefing.com consensus of 0.2%. May's reading was unrevised at 0.2%.

8:05 am: [BRIEFING.COM] S&P futures vs fair value: -5.50. Nasdaq futures vs fair value: -15.40.

U.S. equity futures hover above session lows as the S&P 500 futures trade six points below fair value. Futures moved lower lockstep with global bourses overnight as investors weighed Japan's latest stimulus measures and a continued downturn in European indices. In Japan, Prime Minister Shinzo Abe officially unveiled the country's latest stimulus package, totaling JPY28 trillion. However, the measures have been scrutinized by investors as they contain only JPY7.5 trillion in direct spending. Across the pond, banking names continue to pace the retreat. It was officially announced earlier that Deutsche Bank (DB 12.66, -0.41) and Credit Suisse (CS 10.84, -0.50) would be removed from the Euro Stoxx 50 Index (-1.6%).

On the home front, investors look ahead to the release of the latest inflation reading while pouring over a fresh batch of quarterly earnings reports.

The Treasury complex trades on a lower note as the yield on the 10-yr note rises two basis points to 1.55%.

Today's economic data will include Personal Income (Briefing.com consensus +0.3%) and Personal Spending (Briefing.com consensus +0.3%) reports for June and Core PCE Prices for June (Briefing.com consensus +0.2%), which will each cross the wires at 8:30 ET. Separately, Auto & Truck Sales for July will be released throughout the session.

In U.S. corporate news of note:

Shire PLC (SHPG 201.02, +7.02): +3.6% after beating top- and bottom-line estimates for the quarter and raising is FY16 earnings estimates above consensus
Integrated Device (IDTI 18.35, -3.84): -17.3% following the company reporting an in-line quarter, but issuing disappointing guidance
Procter & Gamble (PG 86.86, +0.21): +0.2% after reporting above-consensus quarterly results, but lowering its FY17 earnings outlook below analysts' estimates
SodaStream (SODA 27.80, +3.52): +14.5% following the company reporting a top- and bottom-line beat for the quarter

Reviewing overnight developments:

Asia-Pacific indices ended on a mixed note with Japan's Nikkei (-1.5%) underperforming China's Shanghai Composite (+0.6%). Elsewhere, Hong Kong's Hang Seng was closed.
In economic data:
Australia's June Building Approvals -2.9% month-over-month (expected 0.5%; last -5.4%) and June trade deficit widened to AUD3.20 billion from AUD2.42 billion (expected deficit of AUD2.00 billion)
South Korea's July CPI +0.1% month-over-month (expected 0.2%; last 0.0%); +0.7% year-over-year (consensus 0.8%; last 0.8%)
New Zealand's Inflation Expectations 1.7% quarter-over-quarter (last 1.6%)
In news:
The Reserve Bank of Australia announced a 25-basis point cut to its key interest rate, which is now at 1.50%.
The rate cut was widely expected due to softening trade and housing data.
Market participants showed some concern over the accompanying policy statement, which left little room for additional cuts.
In Japan, Prime Minister Shinzo Abe officially unveiled the latest stimulus measures
However, the yen rallied back to 101.75 against the dollar.

European indices trade lower with France's CAC -1.5%, Germany's DAX -1.3%, and the U.K.'s FTSE -0.4%. Elsewhere, Spain's IBEX (-2.2%) paces the retreat.
In economic data:
Eurozone June PPI +0.7% month-over-month (expected 0.4%; last 0.6%); -3.1% year-over-year (consensus -3.5%; last -3.8%)
UK's July Construction PMI 45.9 (consensus 43.8; last 46.0)
Spain's Unemployment Change -84,000 (expected -70,000; last -124,300)
Swiss June Retail Sales -3.9% year-over-year (consensus -2.0%; last -1.7%) and July SVME PMI 50.1 (consensus 51.7; last 51.6)
In news:
Bank shares have extended yesterday's losses, which puts them at the forefront of today's retreat.
The euro has edged up 0.3% to 1.1194 against the dollar.
For its part, the pound has climbed 0.5% to 1.3241 versus the greenback.

6:00 am: [BRIEFING.COM] S&P futures vs fair value: -4.80. Nasdaq futures vs fair value: -12.50.

6:00 am: [BRIEFING.COM] Nikkei...16391.5...-244.30...-1.50%. Hang Seng...Holiday.........

6:00 am: [BRIEFING.COM] FTSE...6657.28...-36.70...-0.60%. DAX...10202.41...-128.10...-1.20%.

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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