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 Post subject: August 8th Monday Trade Results - No Trades
PostPosted: Tue Aug 09, 2016 4:03 pm 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
Accolades (Testimonials): http://www.thestrategylab.com/Accolades.htm
Business Hours: 8am - 5pm est (Mon - Fri)
wrbanalysis@gmail.com (24/7)
http://stocktwits.com/wrbtrader (24/7)
http://twitter.com/wrbtrader (24/7)

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.

Quote:
No trades today so that I can rest my wrist and to watch the Olympics. I'm still not able to sleep well at night with the cast on my arm. Thus, I feel exhausted during the day.

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $0.00 dollars or +0.00 points, Light Crude Oil CL ($CL_F) futures @ $0.00 dollars or +0.00 points, Gold GC ($GC_F) futures @ $0.00 dollars or +0.00 points and EuroFX 6E ($6E_F) futures @ $0.00 dollars or +0.0000 ticks. Total Profit @ $0.00 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=159&t=2429

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.

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

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.


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


4:10 pm: [BRIEFING.COM] The stock market began the week on a quiet note as the Nasdaq Composite (-0.2%) settled behind the S&P 500 (-0.1%) and the Dow Jones Industrial Average (-0.1%). The benchmark index meandered in an eight-point trading range as a rally in crude oil helped counter weakness from the heavyweight consumer discretionary (-0.3%) and health care (-0.9%) sectors.

U.S. equities began the day on a modestly higher note, responding to a positive bias in global bourses. Asia-Pacific indices outperformed as participants reacted to Friday's above-consensus reading of the U.S. Employment Situation Report for July. The employment data showed continued improvement to the hiring landscape as nonfarm payrolls (255K; Briefing.com consensus 185K) handily beat estimates for the second consecutive month. Conversely, there was no negative response to China's disappointing Trade Balance Report after the People's Bank of China suggested potential "innovative" stimulus measures.

The major averages pulled back through the opening hour as the heavyweight technology (UNCH), consumer discretionary (-0.3%), and health care (-0.9%) sectors weighed on the broader market. The move to the downside was limited though, as investors eyed a rebound in crude oil. WTI crude rallied 3.0% ($43.07/bbl; +$1.24) amid reports that several members of OPEC are attempting to revitalize a production freeze agreement. The energy component extended its August gain to 3.6%.

The benchmark index carved out a session low in the afternoon (2177.85), but recovered in the final hour to end just below its flat line. Seven sectors ended in the red with heavily-weighted industrials (UNCH) and technology (UNCH) showing the slimmest losses. On the flipside, financials (+0.1%), materials (+0.2%), and energy (+1.2%) outperformed.

The countercyclical health care sector (-0.9%) ended at the bottom of the leaderboard as pharmaceutical names weighed. In the group, Bristol-Myers (BMY 60.30, -2.98) extended its two-session losing streak to 19.9%. The company came under pressure last Friday after announcing that its Opdivo medication failed to meet its primary endpoints. Biotechnology also underperformed after Allergan (AGN 248.31, -5.54) reported mixed quarterly results and updated its outlook to reflect the sale of the Actavis Generics division to Teva Pharmaceuticals (TEVA 53.30, -0.91).

Influential Netflix (NFLX 95.11, -1.92) weighed on the consumer discretionary space (-0.3%) after reports indicated that Alibaba (BABA 85.00, +0.41) is not seeking to invest in the company. Separately, Chinese streaming service Leeco announced that it is looking to add additional U.S. employees. Amazon (AMZN 766.56, +0.58) finished flat after Wal-Mart (WMT 73.34, -0.42) agreed to purchase Amazon competitor Jet.com. Wal-Mart agreed to pay $3 billion in cash for the company. Elsewhere, on the M&A front, Mattress Firm (MFRM 63.75, +34.01) spiked after Steinhoff offered to acquire the company for $64 per share.

The PHLX Semiconductor Index (-0.2%) ended behind the broader technology sector (UNCH) as Qorvo (QRVO 54.30, -0.75) continued to underperform. The name has been under pressure after reporting its quarterly results on August 2. Separately, ON Semiconductor (ON 10.11, +0.12) ended higher by 1.2% after beating analysts' estimates for the quarter and offering in-line guidance for the third quarter.

The U.S. Dollar Index (96.39, +0.19) settled modestly higher as the greenback gained ground against the pound and yen. Sterling lost 0.2% against the buck (1.3042) while the dollar/yen pair ended the day higher by 0.6% (102.44). Elsewhere, the dollar lost 0.1% against the commodity-sensitive Canadian dollar (1.3165).

Treasuries ended a quiet session on a flat note as the yield on the benchmark 10-yr note finished flat at 1.59%.

Participation was below the recent average as fewer than 772 million shares changed hands on the NYSE floor.

There was no economic data of note released today.

Tomorrow's economic data will include the preliminary estimate of second quarter Productivity (Briefing.com consensus 0.5%) and Unit Labor Costs (Briefing.com consensus 1.7%), which will cross the wires at 8:30 ET. Separately, Wholesale Inventories for June (Briefing.com consensus +0.2%) will be released at 10:00 ET.

Russell 2000 +8.3% YTD
S&P 500 +6.7% YTD
Dow Jones +6.3% YTD
Nasdaq Composite +4.1% YTD

3:30 pm: [BRIEFING.COM]

The dollar index held onto its morning gains, +0.2% around the 96.39 level
Commodities, as measured by the Bloomberg Commodity Index, were up +0.6% around the 84.32 level
Crude oil rallies most of the day, seeing a notable sell-off into the close, still closing well in the green ahead of tomorrow's API data
September crude oil futures rose $1.24 (+3.0%) to $43.07/barrel
Monthly IEA data will be released Aug 11
Weekly EIA data will be released Wednesday at 10:30 am ET
API data will be released tomorrow after the bell
Natural gas declines & closes lower for the third consecutive trading session
September natural gas closed $0.02 lower (-0.7%) at $2.75/MMBtu
In precious metals, gold ends lower while silver trades nearly flat in afternoon pit trading
December gold ended today's session down $3.30 (-0.3%) to $1341.20/oz
September silver closed today's session $0.02 higher (+0.1%) at $19.82/oz

2:55 pm:

[BRIEFING.COM] As the stock market enters its final hour of trade, the Nasdaq Composite (-0.3%) trades behind the S&P 500 (-0.2%) and the Dow Jones Industrial Average (-0.2%).

Seven sectors trade in the red as heavily-weighted health care (-1.0%) and consumer discretionary (-0.3%) round out the leaderboard. The remaining decliners sport losses between 0.1% (industrials) and 0.3% (consumer staples). On the flipside, commodity-sensitive energy (+1.3%) and materials (+0.2%) outperform while the financial sector (UNCH) flirts with its flat line.

The PHLX Semiconductor Index (-0.3%) trades behind the broader market as Qorvo (QRVO 54.16, -0.88) continues to underperform. The stock has tumbled 11.9% since reporting earnings on August 2. The company beat top- and bottom-line estimates for the quarter, but incremental margins for its iPhone components business came in lighter than expected. Conversely, ON Semiconductor (ON 10.18, +0.19) trades higher by 1.9% after beating analysts' estimates for the quarter and offering in-line guidance for the third quarter. The PHLX Semiconductor Index has gained 0.6% in August, compared to a gain of 1.4% in the broader technology sector.

WTI crude finished the day higher by 3.0% ($43.07/bbl; +$1.24).

2:25 pm:

[BRIEFING.COM] The S&P 500 (-0.2%) and the Dow Jones Industrial Average (-0.2%) have each carved out fresh session lows in recent trade.

In the consumer staples space (-0.3%), beverage names underperform as Monster Beverage (MNST 159.25, -3.27) pulls back from its post-earning rally. The stock gained 2.5% on Friday after the company reported a mixed quarter and authorized an additional $250 million in share repurchases. Elsewhere, Tyson Foods (TSN 73.54, -0.10) hovers beneath its flat line as investors weigh a bottom-line beat and an increased full-year outlook. The stock sports a year-to-date gain of 37.9%, which compares to a gain of 7.6% in the broader sector over that period. The consumer staples sector trails only utilities (+0.1%; year-to-date: +17.3%) and telecom services (-0.3%; year-to-date: +19.2%) on this year's leaderboard.

WTI crude trades higher by 3.4% ($43.20/bbl; +$1.40) ahead of its pit session close at 14:30 ET. The energy component has erased a modest monthly loss in recent sessions and now sports a month-to-date gain of 4.0%.

1:55 pm:

[BRIEFING.COM] The major averages continue to trade in sideways fashion as the S&P 500 (-0.1%) trades one point above its session low. Separately, the Nasdaq Composite (-0.2%) has trimmed its monthly gain to 0.9%.

The economically-sensitive financial sector (+0.2%) displays relative strength as life insurance names and real estate investment trusts lead. MetLife (MET 41.53, +0.39) outperforms, trimming its post-earnings loss to 5.0%. The company missed top- and bottom-line estimates for the quarter on August 3. Separately, Prudential (PRU 77.20, +1.17) has gained 1.4% since missing analysts' estimates for the quarter and approving an additional $500 million in share repurchases on August 3. The broader financial sector has advanced 1.5% in August, trading neck-and-neck with technology (-0.1%; month-to-date: +1.5%) over that time.

The Treasury complex hovers near its flat line as the yield on the 10-yr note sits unchanged at 1.59%. For the month, the yield on the 10-yr note has risen 13 basis points from the July settlement (1.46%).

On the commodities front, gold ended its pit session lower by 0.3% ($1,341.20/ozt; -$3.30), extending the August decline to 1.2%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices trade fractionally lower to start the week in light trading.

A look inside the Dow Jones Industrial Average shows that Merck (MRK 62.61, -1.25), Pfizer (PFE 34.89, -0.55), & McDonald's (MCD 118.31, -0.90) are underperforming. Merck and Pfizer are leading the Dow lower as health care drags, dropping nearly 1% as a sector.

Conversely, Exxon Mobil (XOM 88.54, +0.98) is the best-performing Dow component as the energy sector soars amid a 3% rally in crude oil futures.

With today's pullback, the DJIA has trimmed its August gains to 0.5%

1:05 pm:

[BRIEFING.COM] The stock market is little changed at midday with the Nasdaq Composite (-0.2%) trading slightly behind the S&P 500 (-0.1%). The benchmark index notched a new all-time intraday high (2185.54) at the start of the session, but the index has slipped from that level in the first half of trade. Today's flat performance follows Friday's positive employment reading and a mixed set of economic data from overseas. Other contributing factors impacting today's trade include a leg higher in oil and weakness from the heavily-weighted technology (-0.2%), consumer discretionary (-0.3%), and health care (-0.9%) sectors.

Global markets tilted to the upside overnight as investors responded to Friday's stronger-than-expected reading of the Employment Situation Report for July. The report reduced concerns regarding the U.S. employment picture, indicating that headline nonfarm payrolls (255K; Briefing.com consensus 185K) increased faster-than-expected. The report also showed positive strides in average hourly earnings (+0.3%; Briefing.com consensus +0.2%). On the flipside, China's Trade Balance Report for July disappointed with imports (-12.5%; consensus -7.0%) and exports (-4.4%; consensus -3.0%) contracting more than expected.

The major averages carved out lows in the opening hour of trade with heavily-weighted technology (-0.2%), consumer discretionary (-0.3%), and health care (-0.9%) each dragging down the broader market. However, a continued rebound in crude oil futures has offered support to equities. The energy component has rallied 3.1% ($43.10/bbl; +$1.30) after reports indicated that several members of OPEC are looking to revisit a potential production freeze agreement. The S&P 500 (-0.1%) continues to maintain its footing near the 2180 price level as five sectors trade in the green with financials (+0.2%), materials (+0.2%), and energy (+1.5%) outperforming.

The health care sector (-0.9%) leads to the downside as pharmaceutical names and biotechnology underperform. Dow component Merck (MRK 62.81, -1.02) displays relative weakness, trimming Friday's 10.4% gain. The pharmaceutical giant rallied at the end of last week when Bristol-Myers (BMY 60.32, -2.96) announced that its Opdivo medication failed to meet its primary endpoints. Biotechnology also underperforms as Allergan (AGN 247.16, -6.69) weighs. The company reported mixed quarterly results and updated its outlook.

In the consumer discretionary space (-0.3%), Amazon (AMZN 763.72, -2.25) underperforms after Wal-Mart (WMT 73.16, -0.60) agreed to purchase Amazon competitor Jet.com. Wal-Mart agreed to pay $3 billion in cash for the company. Influential Netflix (NFLX 94.88, -2.15) also displays relative weakness after Alibaba (BABA 84.94, +0.35) denied reports that it is seeking to invest in the company. Additionally, Chinese streaming service Leeco also announced that it is looking to add additional U.S. employees.

The Dow Jones Transportation Average (+0.2%) trades ahead of the benchmark index as rail names outperform. In the sub-group, Norfolk Southern (NSC 89.59, +0.71) leads, gaining 0.9%. Separately, Avis Budget (CAR 38.85, +0.49) has extended its post-earnings rally, jumping 11.8% since reporting mixed results and raising its outlook on August 3.

The U.S. Dollar Index (96.43, +0.24) trades near its best level as the greenback gains against the euro, pound, and yen. The single currency has lost 0.1% against the dollar (1.1077) while the dollar has jumped 0.8% against the safe-haven yen (102.57). Separately, the dollar/Canadian dollar pair trades lower by 0.1% (1.3157).

Treasuries trade on a higher note as yields slips across the curve. The yield on the 10-yr note has slipped one basis point to 1.58%.

There was no economic data of note released today.

12:30 pm:

[BRIEFING.COM] The major averages continue to hold posture above their session lows. The Nasdaq Composite (-0.2%) trades behind the S&P 500 (-0.1%) while the domestically-oriented Russell 2000 (+0.2%) outperforms.

In the consumer discretionary space (-0.3%), Netflix (NFLX 94.50, -2.53) underperforms amid headlines that Alibaba (BABA 84.90, +0.31) has denied reports that it is seeking to invest in the streaming service. The stock is also likely seeing pressure from news that Chinese streaming service Leeco is looking to add additional U.S. employees. Separately, Amazon (AMZN 762.82, -3.15) has ticked lower by 0.4% after Wal-Mart (WMT 73.27, -0.49) announced that it would be acquiring Amazon competitor Jet.com. Wal-Mart has agreed to acquire the company for $3 billion in cash.

In the broader sector, specialty retailer Mattress Firm (MFRM 63.70, +33.96) outperforms after agreeing to be acquired by Steinhoff for $64 per share. This represents a 115.2% premium to Friday's closing price (29.74).

On the commodities front, WTI crude trades higher by 2.8% ($42.97/bbl, +$1.17) while gold sports a loss of 0.2% ($1,341.70/ozt; -$2.70).

11:55 am:

[BRIEFING.COM] The broader market has inched higher in recent action as the S&P 500 (-0.1%) trades neck-and-neck with the Dow Jones Industrial Average (-0.1%).

The commodity-sensitive energy sector (+1.8%) continues to offer support to the market as the space moves higher lockstep with crude oil. Today's move higher in oil futures corresponded with reports that several members of OPEC are looking to revive a production freeze agreement. WTI crude trades higher by 2.9% ($43.01/bbl; +$1.21).

In the sector, independent oil and gas companies, oil field service names, and pipeline companies each demonstrate relative strength. Dow component Exxon Mobil (XOM 88.51, +0.95) has gained 1.1%, trimming its post-earnings loss to 1.9%. Exxon declined as much as 4.8% after disappointing investors with top- and bottom-line misses on July 29.

The U.S. Dollar Index (96.45, +0.26) floats near its best level of the day as the euro, pound, and yen lose ground to the greenback. The euro has ticked lower by 0.1% against the dollar (1.1075) while cable has declined 0.2% (1.3039). Separately, the buck has lost 0.1% against the commodity-sensitive Canadian dollar (1.3161).

11:30 am:

[BRIEFING.COM] The major indices have traded in sideways fashion since our last update as the Nasdaq Composite (-0.2%) trades narrowly behind the S&P 500 (-0.1%).

The industrial sector (+0.2%) has ticked higher in recent action as machinery names and electrical equipment companies rebound from last week's selling. Emerson (EMR 54.59, +0.80) and Ametek (AME 47.18, +0.99) trade higher by 1.5% and 2.1%, respectively. Separately, Eaton (ETN 66.43,+ 0.97) has rallied 4.0% since reporting an in-line quarter on August 2.

The Dow Jones Transportation Average (+0.4%) trades ahead of the broader market as rail names outperform in the index. In the group, Union Pacific (UNP 94.68, +0.83) and Norfolk Southern (NSC 90.28, +1.40) trade higher by 0.9% and 1.6%, respectively. Separately, Avis Budget (CAR 38.77, +0.41) has extended its post-earnings rally, jumping 11.5% since reporting mixed results and issuing better-than-expected guidance on August 3.

On the commodities front, WTI crude trades higher by 2.6% ($42.89/bbl, +$1.09) while gold sports a loss of 0.2% ($1,341.50/ozt; -$3.10).

11:00 am:

[BRIEFING.COM] The Nasdaq Composite (-0.3%) trades behind the S&P 500 (-0.1%) as the technology and biotechnology sub-groups weigh on the tech-heavy index.

Biotechnology demonstrates relative weakness, evidenced by the 0.8% decline in the iShares Nasdaq Biotechnology ETF (IBB 294.95, -2.34). In the ETF, Allergan (AGN 246.00, -7.85) underperforms after reporting mixed quarterly results and updating its outlook. Separately, Gilead Sciences (GILD 79.25, -1.16) has been under pressure after Egerton Capital disclosed that it reduced its position in Gilead to approximately 1.4 million shares from approximately 4.5 million shares.

In the broader sector (-0.9%), Dow component Merck (MRK 62.41, -1.44) rounds out the price-weighted index after Friday's rally. The stock jumped 10.4% following negative test results for Bristol-Myers' (BMY 60.55, -2.72) Opdivo medication. It was believed the news would reduce competition for Merck's lung cancer treatment.

The Treasury complex trades on a slightly higher note as the yield on the 10-yr note slips one basis point to 1.58%. The yield on the 10-yr note hovered near 1.61% (+2 bps) at the start of the session.

10:30 am:

[BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, were up +0.6% around the 84.36 level
Crude oil broke out to fresh session highs in morning pit trading, ahead of tomorrow's API number
September crude oil futures were up $1.03 (+2.5%) around the $42.83/barrel level
Monthly IEA data will be released on Aug 11
Weekly EIA petroleum data will be released at 10:30 am ET on Wednesday
Baker Hughes rig count data will be released Friday at 1 pm ET
Natural gas declines for the third consecutive pit trading session
September natural gas futures were down $0.05 (-2.05%) at $2.72/MMBtu
Weekly EIA natural gas storage inventory data will be released Thursday at 10:30 am ET
In precious metals,the gold:silver ratio decreased as gold declined and silver inched higher
December gold futures were down $20.90 (-0.2%) to $1341.60/oz
September silver futures were up $0.04 (+0.2%) to $19.86/oz

10:00 am:

[BRIEFING.COM] The major averages have ticked lower in recent action as the Nasdaq Composite (UNCH) continues to trade in-line with the S&P 500 (UNCH).

The heavyweight consumer discretionary (-0.2%) and technology (-0.1%) sectors have slipped into negative territory in recent action. The two sectors lead health care (-0.6%), consumer staples (-0.4%), and telecom services (-0.3%) on the bottom of the leaderboard.

In the technology sector (-0.1%), the high-beta chipmakers outperform, evidenced by the 0.2% gain in the PHLX Semiconductor Index. In the group, ON Semiconductor (ON 10.37, + 0.38) has jumped 4.0% after beating top- and bottom-line estimates for the quarter.

The U.S. Dollar Index (96.43, +0.23) trades off its best level as the greenback loses ground to commodity currencies. The dollar/Canadian dollar pair trades lower by 0.3% (1.3140) after slipping from the 1.3165 price level at the start of the session. Separately, the single currency has declined 0.1% against the buck (1.1075) while sterling has lost 0.2% against the dollar (1.3056).

9:50 am:

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

Six sectors trade in the green as commodity-sensitive energy (+1.3%) and materials (+0.4%) lead the pack. The remaining gainers sport upticks between 0.1% (consumer discretionary) and 0.4% (industrials). Conversely, countercyclical health care (-0.4%), consumer staples (-0.4%), telecom services (-0.2%), and utilities (-0.1%) show the only losses.

In the health care space (-0.4%), pharmaceutical names demonstrate relative weakness as Merck (MRK 62.62, -1.25) pulls back following last Friday's 10.4% gain. Separately, Allergan (AGN 246.38, -7.58) underperforms after beating bottom-line estimates and reaffirming that the company does not plan on making a large M&A deal.

Tobacco names underperform in the consumer staples space (-0.4%) as Philip Morris International (PM 98.47, -0.46) and Altria (MO 65.99, -0.53) decline by 0.5% and 0.9%, respectively.

On the commodities front, WTI crude trades higher by 2.2% ($42.71/bbl; +$0.93) while gold has slipped 0.3% to $1,341.20/ozt.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +1.10.

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

Index futures ticked higher overnight as global markets responded to Friday's U.S. employment reading and mixed economic data from overseas. The Employment Situation Report for July showed that nonfarm payrolls (255K; Briefing.com consensus 185K) came in stronger than expected while average hourly earnings (+0.3%; Briefing.com consensus +0.2%) also topped estimates. The report brought forward fed funds rate hike expectations as the fed funds futures market now calculates the implied probability of a rate hike at the December meeting at 48.4%. The odds of a rate hike by the end of the year were pegged at 32.1% prior to Friday's employment reading.

China's Trade Balance Report for July was a disappointment, but the market has shrugged off the news. The report indicated that the July trade balance expanded ($52.31 billion; last $48.11 billion) at a faster than expected pace, but both imports and exports contracted more than expected. Imports fell 12.5% year-over year (consensus: -7.0%) while exports slipped 4.4% (consensus: -3.0%). The negative impact from the report was diminished as the People's Bank of China suggested potential "innovative" stimulus measures.

On the corporate front, Sotheby's (BID 33.99, +1.71) trades higher by 5.3% after beating top- and bottom-line estimates for the quarter. The company also issued a cautious outlook, citing many similar factors from last year's weak third quarter. On the M&A front, Wal-Mart (WMT 74.17, +0.41) trades higher by 0.6% after confirming that it will acquire Jet.com for $3 billion in cash.

There is no economic data of note scheduled to be released today.

8:57 am: [BRIEFING.COM] S&P futures vs fair value: +0.80. Nasdaq futures vs fair value: +1.40.

Index futures continue to float above their flat lines as the S&P 500 futures trade one point above fair value.

Equity indices in the Asia-Pacific region ended Monday on a higher note with Japan's Nikkei (+2.4%) pacing the rally. There were some grumblings suggesting the Bank of Japan may expand asset purchases or do away with its 2.0% inflation target.

In economic data:
China's July trade surplus expanded to $52.31 billion from $48.11 billion (expected surplus of $47.60 billion) as Imports -12.5% year-over-year (consensus -7.0%; last -8.4%) and Exports -4.4% year-over-year (consensus -3.0%; previous -4.8%)
Japan's June Current Account JPY1.65 trillion (expected JPY1.60 trillion; last JPY1.41 trillion) and Bank Lending +2.1% year-over-year (consensus 2.0%; last 2.0%). July Economy Watchers Current Index 45.1 (consensus 42.6; last 41.2)
Australia's ANZ Job Advertisements -0.8% month-over-month (last 0.4%)

---Equity Markets---

Japan's Nikkei advanced 2.4% with nine sectors posting gains. Financials (+4.9%), industrials (+3.1%), and materials (+3.0%) outperformed while utilities (-0.2%) lagged. Sumitomo Realty & Development, Nitto Denko, Dai-ichi Life Insurnace, JTEKT, Komatsu, Mazda Motor, and Alps Electric gained between 5.3% and 8.8%.
Hong Kong's Hang Seng climbed 1.6% amid broad strength. Financials and property names displayed relative strength with China Resources Land, Hang Lung Properties, Cheung Kong Property Holdings, New World Development, and Bank of East Asia added between 2.5% and 4.0%.
China's Shanghai Composite climbed into the close, rising 0.9%. Greattown Holdings, North Navigation Control Technology, INESA Electron, and Shanxi Coking gained between 7.4% and 8.3%.

Major European indices trade mostly higher with Germany's DAX (+0.6%) and Italy's MIB (+0.6%) showing relative strength. Financials have been at the forefront of today's rally while news from the region has been limited. The euro (1.1087) is little changed against the dollar after surrendering a slim overnight gain.

In economic data:
Eurozone August Sentix Investor Confidence 4.2 (expected 3.0; last 1.7)
Germany's June Industrial Production +0.8% month-over-month (expected 0.7%; last -0.9%)
Swiss July CPI -0.4% month-over-month (expected -0.5%; last 0.1%); -0.2% year-over-year (consensus -0.3%; last -0.4%)

---Equity Markets---

UK's FTSE is lower by 0.1% with drugmakers on the defensive. Hikma Pharmaceuticals is down 4.5% to continue its post-earnings decline while Shire, GlaxoSmithKline, and AstraZeneca show losses between 1.5% and 2.1%. Miners outperform with BHP Billiton, Anglo American, Antofagasta, and Rio Tinto up between 2.1% and 3.5%.
France's CAC has ticked higher by 0.1% with financials among the leaders. AXA, Credit Agricole, Societe Generale, and BNP Paribas are up between 1.8% and 3.3%. Consumer names lag with Danone, Kering, and L'Oreal down between 0.6% and 1.4%.
Germany's DAX trades up 0.6% with financials Allianz, Deutsche Bank, and Commerzbank in the lead. The three names are up between 3.3% and 4.1%. Exporters Volkswagen, BMW, and Daimler are all up near 1.0%.
Italy's MIB has rallied 0.6% with Banco Popolare, Banca di Milano Scarl, Mediobanca, Unicredit, UBI Banca, and Intesa Sanpaolo gaining between 2.6% and 5.5%.

8:28 am: [BRIEFING.COM] S&P futures vs fair value: +1.50. Nasdaq futures vs fair value: +4.50.

Equity futures continue to sport modest gains as the S&P 500 futures trade two points above fair value.

In company specific news, Allergan (AGN 252.70, -1.15) trades lower by 0.5% after beating bottom-line estimates for the quarter and updating its guidance. The company adjusted its outlook after selling the Actavis Generics division to Teva Pharmaceuticals (TEVA 54.05, -0.16). Dean Foods (DF 18.10, -0.72) has declined by 3.8% after missing bottom-line estimates for the second quarter and issuing in-line guidance for the third quarter. Finally, Vail Resorts (MTN 146.44, +2.47) trades higher by 1.7% after announcing that it will acquire Whistler Blackcomb for approximately $1.06 billion.

The U.S. Dollar Index (96.34, +0.16) trades modestly higher as investors continue to mull over Friday's positive U.S. jobs reading. The pound/dollar pair trades lower by 0.1% (1.3053) while the buck has gained 0.6% against the safe-haven yen (102.40). Separately, the dollar has lost 0.2% against the Canadian dollar (1.3146) amid a continued rebound in crude oil.

8:03 am: [BRIEFING.COM] S&P futures vs fair value: +2.30. Nasdaq futures vs fair value: +6.40.

U.S. equity futures trade on a modestly higher note with the S&P 500 futures floating two points above fair value. Futures ticked higher with global bourses overnight as investors ruminated over a mixed batch of economic data from overseas. In Asia, China's July trade balance expanded ($52.31 billion; last $48.11 billion), but both imports (-12.5%; consensus -7.0%) and exports (-4.4%; consensus -3.0%) missed their respective estimates. The readings led to speculation regarding new easing measures out of China. Across the pond, German Industrial Production for June (+0.8%; consensus: +0.7%) came in above-consensus and also handily beat the prior reading (-0.9%).

On the home front, oil futures remain in focus as investors respond to reports that several members of OPEC are looking to revive a potential production freeze agreement. WTI crude trades higher by 1.9% ($45.62/bbl; +$0.82).

The Treasury complex trades on a modestly higher note as the yield on the 10-yr note slips one basis point to 1.58%.

There is no economic data of note scheduled to be released today.

In U.S. corporate news of note:

Delta Air Lines (DAL 36.97, -0.70): -1.9% after confirming a power outage caused a global system failure
Mattress Firm (MFRM 63.68, +33.94): +114.1% following the company agreeing to be acquired by Steinhoff (SNHFY) for $64 per share.
Wal-Mart (WMT 74.00, +0.24): +0.3% amid reports that the retailer is expected to announce the acquisition of Jet.com for $3.0 billion
Tyson Foods (TSN 75.00, +1.36): +1.9% after beating bottom-line estimates for the quarter and raising its FY16 earnings guidance

Reviewing overnight developments:

Asia-Pacific indices began the week on a higher note as Japan's Nikkei (+2.4%) led Hong Kong's Hang Seng (+1.6%) and China's Shanghai Composite (+0.9%).
In economic data:
China's July trade surplus expanded to $52.31 billion from $48.11 billion (expected surplus of $47.60 billion) as Imports -12.5% year-over-year (consensus -7.0%; last -8.4%) and Exports -4.4% year-over-year (consensus -3.0%; previous -4.8%)
Japan's June Current Account JPY1.65 trillion (expected JPY1.60 trillion; last JPY1.41 trillion) and Bank Lending +2.1% year-over-year (consensus 2.0%; last 2.0%). July Economy Watchers Current Index 45.1 (consensus 42.6; last 41.2)
Australia's ANZ Job Advertisements -0.8% month-over-month (last 0.4%)
In news:
There were some grumblings suggesting the Bank of Japan may expand asset purchases or do away with its 2.0% inflation target.

European indices trade higher with Germany's DAX (+0.8%) outperforming France's CAC (+0.3%) and the U.K.'s FTSE (-0.2%). Elsewhere, Italy's MIB (+0.9%) shows relative strength.
In economic data:
Eurozone August Sentix Investor Confidence 4.2 (expected 3.0; last 1.7)
Germany's June Industrial Production +0.8% month-over-month (expected 0.7%; last -0.9%)
Swiss July CPI -0.4% month-over-month (expected -0.5%; last 0.1%); -0.2% year-over-year (consensus -0.3%; last -0.4%)
In news:
Financials have been at the forefront of today's rally while news from the region has been limited.
Both the euro (1.1084) and the pound (1.3060) are little changed against the dollar after surrendering slim overnight gains.

5:57 am: [BRIEFING.COM] S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +9.40.

5:57 am: [BRIEFING.COM] Nikkei...16651...+396.10...+2.40%. Hang Seng...22495...+348.70...+1.60%.

5:57 am: [BRIEFING.COM] FTSE...6804.45...+11.00...+0.20%. DAX...10460.08...+92.90...+0.90%.

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

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

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


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