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 Post subject: January 3rd Tuesday Trade Results - No Trades
PostPosted: Tue Jan 03, 2017 7:47 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)
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http://twitter.com/wrbtrader (24/7)

Quote:
No trades today. I'm still preparing to trade soon. I've been studying the price action via WRB Analysis and will be seeing my doctor/occupational therapist soon to get approval to begin trading soon.

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

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.

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=160&t=2452

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=312&t=3290 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.

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


4:10 pm: [BRIEFING.COM] The stock market began the new year on a higher note, but the bulk of today's advance took place during the initial minutes of the session. The S&P 500 added 0.9% after being up 1.1% during the opening hour.

The long weekend was fairly quiet from the news standpoint, but investors did receive upbeat economic data from China (Caixin Manufacturing PMI 51.9; previous 50.9) and the eurozone (December Manufacturing PMI 54.9; previous 54.9). The data was used to justify the sunny disposition in the pre-market, but roughly half of the early gains faded shortly after the open. The morning pullback coincided with a spike in the yen after the dollar/yen pair failed to climb above its December high (118.67). The yen picked up about 100 pips against the dollar in just over an hour, and the risk-off move in the currency market helped cool the buying jets in the stock market. However, the last 30 minutes of the session saw the market rally back towards its early high.

Ten out of eleven sectors ended the day in positive territory with health care (+1.4%) and telecom services (+1.9%) climbing into the lead as the broader market retreated during the late morning. Telecom services rallied behind Verizon (VZ 54.58, +1.20) after the stock was upgraded to 'Buy' from 'Neutral' at Citigroup while the health care sector received support from biotech names. The iShares Nasdaq Biotechnology ETF (IBB 270.24, +4.86) spiked 1.8%. Although biotechnology lifted the health care sector, it could not keep the Nasdaq Composite (+0.9%) ahead of the broader market due to relative weakness in chipmaker names. The PHLX Semiconductor Index (+0.1%) spent the bulk of the day in negative territory, but late afternoon buying prevented a lower finish while the broader technology sector (+0.9%) settled just ahead of the broader market.

Like technology, financials (+1.0%) settled in the neighborhood of the S&P 500, but the sector flirted with a 2.0% gain at the start. Similarly, energy (+1.2%) backed off its opening high, but still ended comfortably in the green even though crude oil surrendered a big gain to end lower by 2.6% at $52.33/bbl after climbing above $55.00/bbl in overnight action.

Automakers were in the news today, starting with General Motors (GM 35.15, +0.31). Shares of GM ended higher by 0.9% after being down 1.0% in pre-market after President-elect Donald Trump said, in a tweet, that GM should pay a "big border tax" on Chevrolet Cruze vehicles produced in Mexico. General Motors responded by saying that most Cruze vehicles for U.S. distribution are produced in Ohio. Separately, Ford (F 12.59, +0.46) climbed 3.8% after announcing it will expand its plant in Michigan instead of developing a new location in San Luis Potosi, Mexico.

On the downside, the utilities sector (-0.3%) was the lone decliner, spending the day in negative territory even as intraday demand for Treasuries pressured yields off their overnight highs. The 10-yr note ended flat with its yield at 2.45%.

Today's participation was above average as more than one billion shares changed hands at the NYSE floor.

Economic data included Construction Spending and ISM Index:

Total construction spending increased 0.9% in November (Briefing.com consensus +0.5%) on top of an upwardly revised 0.6% increase (from +0.5%) in October. On a year-over-year basis, total construction spending increased at a seasonally adjusted annual rate of 4.1%.
The key takeaway from the report is that construction spending is increasing and will serve as a positive input for Q4 GDP forecasts.
The ISM Manufacturing Index closed 2016 on an upbeat note, hitting 54.7 (Briefing.com consensus 53.6), which was up from 53.2 in November and the highest reading all year. December marked the fourth straight month that the index was above 50.0, which is the dividing line between expansion and contraction.
The key takeaway from the report is that it helps validate the market's budding growth assumptions for 2017 considering the strength in December was forged on the back of a big uptick in the component indexes for new orders and prices.
For further detail on today's economic releases, be sure to visit Briefing.com's Economic Calendar

Tomorrow, the weekly MBA Mortgage Index will be released at 7:00 ET while the Federal Reserve will release the December FOMC Minutes at 14:00 ET.

S&P 500 +0.9% YTD
Nasdaq Composite +0.9% YTD
Dow Jones Industrial Average +0.6% YTD
Russell 2000 +0.5% YTD

3:30 pm: [BRIEFING.COM]

Crude oil reversed initial morning gains & closed at a session low ahead of tomorrow's API
Feb 2017 crude oil futures fell $1.39 (-2.6%) to $52.36/barrel
Due to the holiday, EIA petroleum data will be released at 11 am ET on Thursday.
API data will be released tomorrow after the bell.
Baker Hughes rig count data will be released Friday at 1 pm ET.
Natural gas plummeted on warmer weather forecasts for Jan ahead of Thursday's regualy scheduled EIA
Feb 2017 natural gas closed $0.36 lower (-9.8%) at $3.32/MMBtu
An updated outlook announced by the National Weather Service yesterday showed warmer-than-usual weather spreading across the southern half of the U.S. and into parts of the Midwest & Northeast by mid-Jan.
In precious metals, gold & silver ended pit trading higher despite a notable surge in the dollar index following manufacturing data
Feb 2017 gold ended today's session up $10.20 (+0.9%) to $1162.00/oz
Mar 2017 silver closed today's session $0.44 higher (+2.8%) at $16.42/oz
The dollar index was +1.0% around the 103.19 level, near a 14-year high on the heels of this morning's manufacturing data
Commodities, as measured by the Bloomberg Commodity Index, were -1.7% around the 86.07

3:00 pm:

[BRIEFING.COM] The stock market holds its gain with one hour left in the first trading session of 2017. The S&P 500 is up 0.4%, while the Russell 2000 (unch) underperforms.

Cyclical sectors have the upper hand as all six remain in the green. Despite the advantage, defensive sectors claim the top two spots on today's leaderboard with telecom services and health care up 1.7% and 1.2%, respectively. Utilities are still at the back of the pack, down 0.3%.

Volatility protection has not been in demand despite the scope of the pullback from the opening high. The CBOE Volatility Index (VIX 13.52, -0.52) has shed half a point, but remains just above its 50-day moving average of 12.36.

2:25 pm:

[BRIEFING.COM] Equities moved rapidly higher at the start, but the pullback from early highs was nearly as swift, leaving participants unsure about what's to come. Accordingly, the S&P 500 (+0.4%) has spent the past three hours in a five-point range.

The pullback in the overall market has not stopped the health care sector (+1.1%) from climbing. Biotechnology has been supportive, evidenced by a 1.4% gain in the iShares Nasdaq Biotechnology ETF (IBB 269.12, +3.74).

Only one other sector-telecom services (+1.5%)-trades ahead of health care, mostly thanks to a 2.0% spike in Verizon (VZ 54.45, +1.06) after Citigroup upgraded the stock to 'Buy' from 'Neutral.'

2:00 pm:

[BRIEFING.COM] The stock market has remained near its recent level as of late. The S&P 500 is higher by 0.3%, while the Dow (+0.1%) sits closer to its flat line.

Cyclical sectors have the upper hand this afternoon as all six are in positive territory. The energy sector (+1.1%) has reversed its downward trend, despite crude oil hovering near its session low at $52.56/bbl. Heavily-weighted financials (+0.3%) underperform as U.S. Treasuries have dipped back below their flat lines. The 10-yr yield is up two basis points to 2.47%.

On the flip side, three of five non-cyclical sectors are in the red, with telecom services (+1.5%) and health care (+1.1%) fighting the trend. Utilities (-0.5%) remain at the bottom of today's leaderboard, while real estate (-0.3%) performs slightly better. The consumer staples sector (-0.1%) eyes a late afternoon run into green territory.

1:30 pm:

[BRIEFING.COM] The major averages have continued drifting near their early afternoon levels with the S&P 500 up 0.4%.

Two countercyclical sectors-telecom services (+1.5%) and health care (+1.2%)-are now in the lead, which is a bit of a departure from the early going when financials (+0.2%) and energy (+0.6%) were both up more than 1.0% apiece. The energy sector continues holding a solid gain even though crude oil has staged a sharp reversal. The energy component is down 2.4% at $52.44/bbl after setting a session high just shy of $55.25/bbl.

As for financials, the sector backed off its opening high as the U.S. Dollar Index (103.05, +0.68) did the same in late morning action.

1:05 pm:

[BRIEFING.COM] The major averages trade in the green at midday, near the middle of today's trading range. The S&P 500 and the Nasdaq have added 0.4%, while the Dow (+0.2%) underperforms.

Growth-sensitive groups and crude oil busted out of the gate this morning, pushing the S&P 500 up by nearly 1.0%. However, there was no follow-through as averages receded back down with crude oil, which currently resides deep in negative territory. The reversal in stocks occurred amid risk-off action in the currency market. The dollar/yen pair was up more than 1.3% from its 2016 close, but could not climb above its mid-December high. The pair has narrowed that gain to 0.1% at 117.29 in a move that coincided with a pullback in equities. The Dollar Index (103.05, +0.69) remains up 0.7% after backtracking from a new 13-year high.

For its part, crude oil was up more than 2.0%, trading at its best levels in over a year, helped by positive manufacturing data out of China and Europe. The implementation of the crude oil output caps by OPEC and non-OPEC producers was also viewed as a positive overarching factor. However, some concerns about producers outside of that agreement have cropped up, along with a few other headwinds, resulting in a sharp reversal in the late morning. WTI crude trades lower by 2.3% at $52.47/bbl.

Nine of eleven sectors are in the green this afternoon, with utilities (-0.2%) and real estate (-0.1%) bucking the trend. The rate-sensitive utilities sector has spent the entire session in the red amid early weakness in U.S. Treasuries. The 10-yr note has erased an overnight loss, returning its yield to 2.45%.

At the top of the leaderboard is telecom services (+1.7%), followed by health care (+1.0%) and top-weighted technology (+0.5%) to round out the outperformers. The technology sector has done relatively well despite Apple (AAPL 115.31, -0.51) falling 0.5%. Chipmakers have also attempted to pull down the tech sector as the PHLX Semiconductor Index retreats 0.6%.

On the corporate front, General Motors (GM 35.05, +0.21) has recouped its pre-market losses after clarifying that not all of its Chevy Cruze vehicles are made in Mexico (sedans are built in Ohio). The statement follows President-elect Trump's threat to implement a border tax on the vehicle if GM continues to produce the Chevy Cruze outside of the U.S.

Fellow automobile manufacturer Ford Motor (F 12.54, +0.41) also made headlines after reports that the company has scrapped plans for a $1.6 billion plant in Mexico, opting for a $700 million Michigan plant expansion instead. It is unclear if the decision was in response to Donald Trump's proposed border tax mentioned above. The broader industrial sector (+0.3%) trades just behind the broader market.

Economic data included Construction Spending and ISM Index:

Total construction spending increased 0.9% in November (Briefing.com consensus +0.5%) on top of an upwardly revised 0.6% increase (from +0.5%) in October
On a year-over-year basis, total construction spending increased at a seasonally adjusted annual rate of 4.1%
The uptick in November was led by increases for both private construction spending (+1.0%) and public construction spending (+0.8%)
The ISM Manufacturing Index closed 2016 on an upbeat note, hitting 54.7 (Briefing.com consensus 53.6), which was up from 53.2 in November and the highest reading all year
New Orders jumped to 60.2 from 53.0 and Prices jumped to 65.5 from 54.5

12:30 pm:

[BRIEFING.COM] The stock market has maintained posture near the middle of today's trading range. The S&P 500 and the Nasdaq are both higher by 0.4%, while the Dow (+0.2%) underperforms.

There has been some change in sector standings this afternoon as telecom services (+1.7%) have taken the top spot. Health care (+0.9%) sits in second place amid a solid showing from the biotechnology industry. The iShares Nasdaq Biotechnology ETF (IBB 267.52, +2.09) is higher by 0.8%.

Utilities (-0.3%) had some company in the red recently, but the sector now sits alone in negative territory. However, energy (+0.1%), materials (+0.1%), consumer staples (+0.1%), and real estate (+0.1%) are barely hanging onto their modest gains.

11:55 am:

[BRIEFING.COM] The stock market continues to cede some of its early-morning gain as averages trend towards their flat lines. All averages remain in the green for now, with the S&P 500 up 0.4%.

In corporate news, Ford Motor (F 12.44, +0.31) outperforms the consumer discretionary sector (+0.3%) on reports that the company has scrapped its plan for a $1.6 billion plant in Mexico in favor of a $700 million expansion in the company's Flat Rock, Michigan plant. It is unclear if the decision is in response to Mr. Trump's proposed border tax on General Motors' (GM 35.09, +0.26) Chevy Cruze. Ford and GM are up 2.5% and 0.7%, respectively.

Crude oil has fallen from its earlier high and now finds itself in the red. The energy sector (+0.5%) has responded by giving up its place at the top of today's leaderboard. WTI crude is lower by 1.5%, trading at $52.91/bbl.

11:30 am:

[BRIEFING.COM] The major averages have retreated from their early highs, which leaves action near the middle of today's trading range. The S&P 500 remains higher by 0.6%.

It is worth noting that the pullback in the stock market has coincided with similar price action in the dollar/yen pair. The dollar remains higher by 0.3% against the yen (117.81), but the recent move took place after the pair could not climb above its mid-December high (118.67). The dollar/yen pair is viewed as a risk gauge, which is often closely correlated to the S&P 500. The Dollar Index (103.15, +0.78) remains higher by 0.8%.

Treasuries have surrendered a portion of their gains with the 10-yr yield narrowing its increase to two basis points at 2.47%.

10:55 am:

[BRIEFING.COM] The stock market has come off its high in recent action, but the major averages remain cozily in the green. The Nasdaq (+0.8%) and the S&P 500 (+0.8%) are out front, followed by the Dow (+0.5%).

Ten of eleven sectors are in positive territory late this morning. The energy sector (+1.5%) is atop today's leaderboard, amid a 1.2% jump in crude oil. The commodity hovers near its 12-month high, underpinned reportedly by optimism over supply cut agreements that went into effect on January 1 for OPEC and non-OPEC producers. WTI crude trades at $54.36/bbl.

Financials (+1.1%) also outperform the broader market, while utilities (-0.8%) sit alone in the red. The uptick in Treasury yields may explain the interest-sensitive sectors' performances as the benchmark 10-yr yield has increased four basis points to 2.49%.

10:30 am: [BRIEFING.COM]

Natural gas saw its most significant drop in over 1 year after forecasts for milder weather in Jan have the potential to weaken demand for heat
Feb 2017 natural gas futures were down about $0.28 (-7.5%) around the $3.41/MMBtu level
An updated outlook announced by the National Weather Service yesterday showed warmer-than-usual weather spreading across the southern half of the U.S. and into parts of the Midwest and Northeast by mid-Jan.
Natural gas EIA data is expected to come out at its normal time on Thursday at 10:30 am ET.
Crude oil futures begin 2017 on a high note, hitting their highest levels since July 2015 earlier as the first trading day of the year welcomed the official Jan 1 start of the OPEC/non-OPEC supply cut agreement
Feb 2017 crude oil futures were up $0.83 (+1.5%) around the $54.53/barrel level
Reminder: Jan 1 marked the official start of the deal agreed by OPEC & non-OPEC members to slash output
Next week, the OPEC/non-OPEC monitoring committee is scheduled to meet on Jan 13 in Abu Dhabi.
Due to Monday's holiday, API data will be released after the bell tomorrow.
Due to Monday's holiday, EIA data will be released on Thursday at 11:00 am ET.
Baker Hughes rig count data will be released on Friday at 1 pm ET.
In precious metals, gold & silver stage a notable rally despite a morning surge in the dollar index following upbeat manufacturing data
Feb 2017 gold futures were up $4.70 (+0.4%) around the $1156.40/oz level
Mar 2017 silver futures were up $0.42 (+2.6%) around the $16.41/oz level
The dollar index broke out to a 14-year high following US manufacturing data showed activity grew more than expected in Nov
Commodities, as measured by the Bloomberg Commodity Index, were -0.3% around the 87.30 level

10:00 am:

[BRIEFING.COM] The S&P 500 trades higher by 0.7%.

The Construction Spending report for November showed a 0.9% increase while the Briefing.com consensus expected an increase of 0.5%.

The December ISM Index rose to 54.7 from 53.2 in November while the Briefing.com consensus expected an uptick to 53.6.

9:40 am:

[BRIEFING.COM] The major averages jumped out of the gate amid broad strength. The S&P 500 trades higher by 0.7% thanks to gains in ten of eleven sectors.

Growth-sensitive groups have shown relative strength in the early going. Financials (+1.7%), energy (+1.3%), and consumer discretionary (+1.0%) hold the lead while the utilities sector (-0.5%) is the lone decliner so far today.

The relative strength in the financial sector comes amid a slide in Treasuries and an uptick in the U.S. Dollar Index (103.40, +1.19). The Dollar Index has rallied 1.2% while the 10-yr note sits on its low, pressuring its yield five basis points to 2.50%.

November Construction Spending (Briefing.com consensus 0.5%) and December ISM Index (Briefing.com consensus 53.6) will both be released at 10:00 ET.

9:15 am: [BRIEFING.COM] S&P futures vs fair value: +16.00. Nasdaq futures vs fair value: +34.90.

The stock market is in position for a firmly higher open as the S&P 500 futures trade 16 points above fair value.

In corporate news, General Motors (GM 34.84, 0.00) has recouped its early-morning losses after responding to President-elect Trump's threat to implement a border tax on the company's Chevy Cruze. Mr. Trump claimed that the vehicle is made in Mexico, but GM challenged that notion by stating that all Cruze sedans are built in Ohio.

The U.S. Treasury market remains near its overnight low, with the 10-yr yield up six basis points to 2.51%.

Today's economic data will be limited to the November Construction Spending (Briefing.com consensus 0.5%) and the December ISM Index (Briefing.com consensus 53.6). Both reports will be released at 10:00 ET.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: +16.00. Nasdaq futures vs fair value: +37.60.

The S&P 500 futures trade 16 points above fair value.

Equity indices across the Asia-Pacific region ended Tuesday on a higher note while Japan's Nikkei (-0.2%) remained closed for New Year's Day. Overnight dollar strength has pushed the dollar/yen pair above 118.20 while the People's Bank of China lowered the yuan midpoint to 6.9498, lowest mark since December 16.

In economic data:
China's December Caixin Manufacturing PMI 51.9 (expected 50.7; last 50.9)
Hong Kong's November Retail Sales -5.5% year-over-year (last -2.9%)
Australia's AIG Manufacturing Index 55.4 (previous 54.2)
Singapore's Q4 GDP +9.1% quarter-over-quarter (expected 3.7%; previous -1.9%); +1.8% year-over-year (consensus 0.6%; last 1.2%). Q4 URA Property Index -0.4% quarter-over-quarter (last -1.5%)

---Equity Markets---

Japan's Nikkei was closed.
Hong Kong's Hang Seng gained 0.7%. Property names contributed to the advance with SHK Properties, Hang Lung Properties, New World Development, Sino Land, and Henderson Land climbing between 1.5% and 3.0%. Casino names lagged after a disappointing Macau gaming revenue report. Galaxy Entertainment and Sands China fell 1.9% and 0.7%, respectively.
China's Shanghai Composite rallied 1.0%. Shanghai JinFeng Wine, Wanhua Chemical Group, Shaanxi Aerospace Power Hi-Tech, and Shanghai Material Trading posted gains between 5.5% and 7.3%.
India's Sensex added 0.2% with help from more than half of its components. Power Grid surged 2.5% while AXIS Bank, ICICI Bank, and Bajaj Auto advanced between 0.9% and 1.9%. Bharti Airtel was the weakest performer, falling 2.4%, after launching a plan with free 4G data.

Major European indices trade in the green with Germany's DAX (unch) struggling to keep pace with its peers. The euro has retreated 0.7% against the dollar to 1.0383 while the pound (1.2273) trades flat against the greenback. British Prime Minister Theresa May said the country plans to trigger article 50 of the Lisbon Treaty in early March.

In economic data:
Germany's December Unemployment Rate held at 6.0%, as expected. December Unemployment Change -17,000 (consensus -5,000; last -6,000)
UK's December Manufacturing PMI 56.1 (expected 53.3; last 53.6)
France's December CPI +0.3% month-over-month (consensus 0.2%; last 0.0%)

---Equity Markets---

Germany's DAX hovers near its flat line. Exporters Volkswagen, Daimler, Continental, and BMW are up between 1.4% and 3.2%. Deutsche Bank and Commerzbank are also up, adding 0.8% and 3.2%, respectively.
UK's FTSE is higher by 0.5% amid strength in financials. Barclays, Hargreaves Lansdown, Lloyds Banking, RBS, Standard Chartered, and HSBC show gains between 1.9% and 3.7%. Select consumer names lag with Next, Dixons Carphone, Marks & Spencer, Persimmon, and Kingfisher down between 1.4% and 3.7%.
France's CAC has added 0.4% with exporters and financials pacing the advance. Peugeot and Renault hold respective gains of 3.8% and 1.9% while financials Societe Generale, Credit Agricole, and BNP Paribas are up between 2.2% and 3.5%.

8:28 am: [BRIEFING.COM] S&P futures vs fair value: +16.50. Nasdaq futures vs fair value: +38.30.

The stock market is poised for a solidly higher open as the S&P 500 futures trade 17 points above fair value.

President-elect Trump has been active on Twitter this morning, threatening General Motors (GM 34.70, -0.14) with a border tax if the company doesn't relocate its Chevy Cruze production from Mexico to the United States. GM has fallen 0.4% in the wake of Mr. Trump's tweet.

U.S. Treasuries continue near their overnight lows, with the 10-yr yield up six basis points to 2.51%.

Today's economic data will be limited to the November Construction Spending (Briefing.com consensus 0.5%) and the December ISM Index (Briefing.com consensus 53.6). Both reports will be released at 10:00 ET.

8:02 am: [BRIEFING.COM] S&P futures vs fair value: +18.50. Nasdaq futures vs fair value: +41.80.

Equity futures are starting the new year on a solidly positive note, with the S&P 500 futures trading 19 points above fair value. The early rally follows strength in overseas markets, with every major index starting the new year higher. Corporate news flow remains light, but positive economic data out of China and Europe is helping the positive tone.

Crude oil is also higher this morning, adding 2.3% after the supply cut deal between OPEC and non-OPEC members was put into effect on January 1. WTI crude trades at $54.96/bbl.

Conversely, U.S. Treasuries are under pressure this morning. The benchmark 10-yr yield is up six basis points to 2.50%.

On the data front, the November Construction Spending (Briefing.com consensus 0.5%) and the December ISM Index (Briefing.com consensus 53.6) are both due at 10:00 ET.

In U.S. corporate news of note:

General Motors (GM 34.50, -0.34): -1.0% after President-elect Trump tweeted about the tax-free importation of Chevy Cruze vehicles out of Mexico, bringing up the possibility of a tougher border tax.

Reviewing overnight developments:

Equity indices across the Asia-Pacific region ended Tuesday on a higher note while Japan's Nikkei (-0.2%) remained closed for New Year's Day. Hong Kong's Hang Seng +0.7%, China's Shanghai Composite +1.0%, India's Sensex +0.2%.
In economic data:
China's December Caixin Manufacturing PMI 51.9 (expected 50.7; last 50.9)
Hong Kong's November Retail Sales -5.5% year-over-year (last -2.9%)
Australia's AIG Manufacturing Index 55.4 (previous 54.2)
Singapore's Q4 GDP +9.1% quarter-over-quarter (expected 3.7%; previous -1.9%); +1.8% year-over-year (consensus 0.6%; last 1.2%). Q4 URA Property Index -0.4% quarter-over-quarter (last -1.5%)
In news:
Overnight dollar strength has pushed the dollar/yen pair above 118.30.
The People's Bank of China lowered the yuan midpoint to 6.9498, lowest mark since December 16.

Major European indices trade in the green with Germany's DAX struggling to keep pace with its peers. Germany's DAX +0.1%, UK's FTSE +0.5%, France's CAC +0.5%.
In economic data:
Germany's December Unemployment Rate held at 6.0%, as expected. December Unemployment Change -17,000 (consensus -5,000; last -6,000)
UK's December Manufacturing PMI 56.1 (expected 53.3; last 53.6)
France's December CPI +0.3% month-over-month (consensus 0.2%; last 0.0%)
In news:
British Prime Minister Theresa May said the country plans to trigger article 50 of the Lisbon Treaty in early March.

5:59 am: [BRIEFING.COM] S&P futures vs fair value: +15.50. Nasdaq futures vs fair value: +33.40.

5:59 am: [BRIEFING.COM] Nikkei...Holiday......... Hang Seng...22150...+149.80...+0.70%.

5:59 am: [BRIEFING.COM] FTSE...7167.20...+24.40...+0.30%. DAX...11605.5...+7.20...+0.10%.

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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