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 Post subject: January 4th Wednesday Trade Results - No Trades
PostPosted: Wed Jan 04, 2017 7:22 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 but I'm very surprise at the LESS number of WRB Hidden GAP intervals since the U.S. elections or since I came out of the coma in the hospital. I just hope my statistical analysis of the WRB Hidden GAP intervals are incorrect.

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.

Attachment:
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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 Wednesday on a higher note, ending just below its session high. The S&P 500 finished higher by 0.6%, while the Nasdaq (+0.9%) outperformed the benchmark index. The Dow (+0.3%) will begin Thursday's session within striking distance of the 20k mark.

Nine out of eleven sectors finished the day in positive territory, with materials (+1.4%) claiming the top spot on the leaderboard. Consumer discretionary (+1.3%) held the lead for most of the day after automakers reported better-than-expected sales for the month of December. On a year-over-year basis, General Motors (GM 37.09, +1.94)reported a 10.0% increase (consensus +0.7%), while Ford Motor (F 13.17, +0.58)saw a 0.3% gain (consensus -1.6%). The two names finished up by 5.5% and 4.6%, respectively.

Real estate (+1.2%), financials (+0.9%), and health care (+0.7%) also performed better than the broader market. The health care sector received a big bump from biotechnology, evidenced by the iShares Nasdaq Biotechnology ETF's (IBB 277.53, +7.24) 2.7% gain. Information technology (+0.4%) also finished in the green, despite losses from top components like Apple (AAPL 116.02, -0.13), Microsoft (MSFT 62.30, -0.28), and Alphabet (GOOGL 807.77, -0.24).

After finishing at the top of the leaderboard on Tuesday, telecom services (-0.3%) finished at the bottom on Wednesday. Energy (-0.3%) performed only modestly better as the sector failed to capitalize on crude oil's positive performance. The commodity ended its trading day up 1.8% at $52.28/bbl amid a weaker U.S. dollar. The U.S. Dollar Index (102.58, -0.66) finished lower by 0.6%.

On the data front, the Federal Reserve released the minutes from its December meeting, showing a discussion about the recent surge in the dollar that lifted the U.S. Dollar Index (102.72, -0.49) to a fresh 14-year high. Members of the committee discussed the potential headwinds stemming from dollar strength, but hedged that discussion by noting that continued dollar strength might keep down inflation. The minutes showed uncertainty over possible changes in fiscal policies, but members agreed that near-term risks to the economic outlook appear roughly balanced.

Treasuries climbed to new highs immediately after the release, but finished the day near their flat lines. The 10-yr yield ended Wednesday unchanged at 2.45%.

Thursday's economic data will include December Challenger Job Cuts at 7:30 ET, December ADP Employment Change (Briefing.com consensus 170,000) at 8:15 ET, Initial Claims (Briefing.com consensus 265,000) at 8:30 ET, and the December ISM Services Index (Briefing.com consensus 56.6) at 10:00 ET.

On the earning front, several companies are scheduled to report before Thursday's opening bell with Monsanto (MON 105.05, +0.28) and Walgreens Boot Alliance (WBA 82.98, +0.02) being the most notable.

Russell 2000 +2.2% YTD
Dow Jones Industrial Average +0.9% YTD
S&P 500 +1.4% YTD
Nasdaq Composite +1.7% YTD

3:30 pm: [BRIEFING.COM]

In precious metals, gold broke out to its highest level in 3 weeks on notable dollar index weakness
Feb 2017 gold ended today's session up $3.20 (+0.3%) to $1165.20/oz
Mar 2017 silver closed today's session $0.11 higher (+0.7%) at $16.53/oz
The dollar index was -0.6% around the 102.66 level after hitting 14-year highs yesterday, supported precious metals
Commodities, as measured by the Bloomberg Commodity Index, were +1.3% around the 87.17 level
Natural gas extended yesterday's losses ahead of tomorrow's EIA
Feb Natural Gas closed $0.07 lower (-2.1%) at $3.25/MMBtu
EIA natural gas data will be released at 10:30 am ET on Thursday.
Crude oil ended a volatile day at session highs ahead of tonight's API & tomorrow's official petroleum inventory data
Feb crude oil futures rose $0.92 (+1.8%) to $53.28/barrel
Baker Hughes rig count data will be released Friday at 1 pm ET.
Due to Monday's holiday, EIA petroleum data will be released on Thursday at 11:00 am ET.
API will be released today after the bell.
Base metal copper erased all of yesterday's losses & closed at a session high
Mar 2017 copper closed $0.07 higher (+2.8%) at $2.56/lb

3:00 pm:

[BRIEFING.COM] The major averages hover near their session highs. The Nasdaq (+0.9%) has a comfortable lead over the S&P 500 (+0.6%), as the Dow (+0.3%) underperforms its peers.

As the closing bell approaches, the materials (+1.3%) and consumer discretionary (+1.3%) sectors fight for the top spot on today's leaderboard. Real estate (+1.1%) follows closely in third place, while financials (+0.9%) and health care (+0.6%) also outperform. Top-weighted technology (+0.4%) continues to lag, but remains comfortably in the green. At the bottom of the standings is the telecom services sector (-0.3%), with energy (-0.3%) performing only slightly better.

U.S. Treasuries have fallen from their flat lines, with the 10-yr yield up two basis points to 2.46%.

2:25 pm:

[BRIEFING.COM] Equity indices have added to their gains with the S&P 500 extending its advance to 0.6%.

The Federal Reserve released the minutes from its December meeting, showing a discussion about the recent surge in the dollar that lifted the U.S. Dollar Index (102.72, -0.49) to a fresh 14-year high. Members of the committee discussed the potential headwinds stemming from dollar strength, but hedged that discussion by noting that continued dollar strength might keep down inflation.

The minutes showed uncertainty over possible changes in fiscal policies, but members agreed that near-term risks to the economic outlook appear roughly balanced.

Treasuries climbed to new highs immediately after the release of the minutes while the Dollar Index set a fresh session low. Both moves have been retraced in recent minutes. The 10-yr yield is flat at 2.45% while the Dollar Index is down 0.5%.

1:55 pm:

[BRIEFING.COM] Equity indices continue drifting near their recent levels with the Nasdaq (+0.8%) trading firmly ahead of the S&P 500 (+0.5%). The Dow (+0.2%) is 75 points shy of the elusive 20k mark.

Small caps have outperformed the broader market, evidenced by the 1.4% gain in the Russell 2000. In small cap news, Shake Shack (SHAK 38.81, +2.69) has jumped 7.4% ahead of being added to the S&P SmallCap 600 after today's close. The addition of Shake Shack to a well-followed index like this is a near-term positive as index funds will need to purchase the company's shares in order to replicate the index composition. This near-term demand for the stock doesn't fundamentally change anything about Shake Shack's business.

Crude oil has hit a fresh session high in recent action, up 1.8% to $53.24/bbl. Despite the rally, the energy sector (-0.3%) remains near the bottom of today's leaderboard.

1:35 pm:

[BRIEFING.COM] Equity indices have paused near their session highs with the S&P 500 (+0.5%) trading just a point below its best level of the day while the Dow Jones Industrial Average (+0.2%) continues defending a slim gain.

The price-weighted Dow has struggled to keep pace with the broader market due to losses in a handful of influential components. UnitedHealth (UNH 161.01, -0.44), McDonald's (MCD 119.40, -0.22), Travelers (TRV 120.60, -0.30), and Johnson & Johnson (JNJ 115.54, -0.30) are all down near 0.3% while the most influential Dow component-Goldman Sachs (GS 241.82, +0.25)-sits just above its flat line.

Treasuries have spent the day near their flat lines, leaving the 10-yr yield up one basis point at 2.45%.

1:05 pm:

[BRIEFING.COM] The major averages trade in the green at midday after climbing through the first half of today's affair. The Nasdaq has set the pace (+0.8%), followed by the S&P 500 (+0.5%) and the Dow (+0.3%).

Nine out of eleven sectors are in the green early this afternoon, with the consumer discretionary sector (+1.2%) at the top of today's leaderboard. The sector's advance comes after automobile manufacturers reported better-than-expected sales for the month of December. General Motors (GM 36.92, +1.76), Ford Motor (F 13.23, +0.64), and Nissan Motor (NSANY 20.53, +0.28) are all up between 1.4% and 5.0% on the positive reports. Despite missing its own Q4 delivery targets, fellow automaker Tesla Motors (TSLA 226.63, +9.64) has climbed 4.4%.

Health care (+0.6%) has had a solid showing, amid an impressive performance from the biotechnology industry. The iShares Nasdaq Biotechnology ETF (IBB 278.34, +8.10) is higher by 3.0%, thanks to gains from industry heavyweights like Amgen (AMGN 152.46, +1.73) and Gilead Sciences (GILD 76.61, +2.46). The two names are up 1.1% and 3.2%, respectively. This morning, Vice President-elect Mike Pence confirmed the Trump administration's intention to repeal the Affordable Care Act, calling it the administration's top priority.

Real estate (+1.1%) and materials (+1.0%) also trade well ahead of the broader market, while the top-weighted technology sector (+0.3%) lags. The sector has been held back by poor performances from large cap components and chipmakers. Apple (AAPL 116.14, +0.00) sits flat, while Microsoft (MSFT 62.20, -0.38) and Alphabet (GOOGL 806.84, -1.17) have suffered losses of 0.6% and 0.1%, respectively. The PHLX Semiconductor Index is higher by 0.3%, trading behind the broader market.

Energy (-0.2%) has spent today's session in the red, despite a good showing from crude oil. The commodity has hit a session high in recent action, up 1.5% to $53.10/bbl amid a weaker U.S. dollar. The greenback hovers near its session low in the face of a 0.7% gain in the euro and a 0.4% gain in the Japanese yen. Telecom services (-0.4%) accompany the energy sector in the red, sporting a loss of 0.3%. The sector sits at the bottom of today's leaderboard after finishing Tuesday's session at the top.

Treasuries faced some intraday selling yesterday before ending flat. Today has seen more of the same as the 10-yr remains unchanged from its opening level at 2.45%.

Today's economic data was limited to the weekly MBA Mortgage Index, which ticked up 0.1% to follow the prior 2.5% increase.

The December FOMC Minutes will be released at 14:00 E.T.

12:30 pm:

[BRIEFING.COM] The major averages have not changed since the last update. The S&P 500 sits higher by 0.5%, while the Nasdaq (+0.8%) hovers solidly higher.

Technology (+0.2%) continues near the bottom of the leaderboard, only ahead of energy (-0.2%) and telecom services (-0.3%). The tech sector has been held back by disappointing performances from chipmakers and large cap components like Microsoft (MSFT 62.19, -0.40) and Alphabet (GOOGL 807.28, -0.73). The two names are down 0.6% and 0.1%, respectively, while the PHLX Semiconductor Index sits just above its flat line with a 0.1% gain.

U.S. Treasuries have recouped their early losses to trade near their flat lines early this afternoon. The 10-yr yield is unchanged at 2.45%.

11:55 am:

[BRIEFING.COM] Equity indices have extended to new highs with the S&P 500 now up 0.5%. However, small cap stocks have had an even better showing as the Russell 2000 rises 1.5%.

The market has been able to push higher even though the energy sector (-0.2%) trades in negative territory. The growth-sensitive group shows a modest loss despite a 1.5% spike in crude oil to $53.12/bbl.

Only two cyclical groups-consumer discretionary (+1.2%) and materials (+0.9%)-trade ahead of the broader market with the discretionary sector holding the lead since the start thanks to broad-based strength. Automakers like Ford (F 13.19, +0.60) and General Motors (GM 36.78, +1.63) have rallied after reporting December sales while retailers have also enjoyed buying interest, sending the SPDR S&P Retail ETF (XRT 45.24, +0.94) higher by 2.1%.

11:30 am:

[BRIEFING.COM] The equity market has maintained its recent level as the S&P 500 (+0.4%) has not changed since the last update.

After a volatile session yesterday, crude oil finds itself in green territory late this morning. The commodity came down from a session high in recent action, and currently sits up 0.4% at $52.68/bbl amid a weakening U.S. dollar. The greenback hovers near its session low, with the U.S. Dollar Index (102.60, -0.64) down 0.6%.

Earlier this morning, Vice President-elect Mike Pence confirmed the Trump administration's intention to repeal the Affordable Care Act, calling it the administration's top priority. The health care (+0.6%) sector trades a bit ahead of the broader market.

11:00 am:

[BRIEFING.COM] The stock market hovers near its recent level, with the S&P 500 up 0.4%. The Nasdaq (+0.6%) outperforms while the Dow (+0.1%) sits near its flat line.

Ten out of eleven sectors are in the green this morning, with energy (-0.3%) being the lone outlier. The consumer discretionary sector (+1.1%) is at the top of today's leaderboard after automobile manufacturers reported better-than-expected sales for the month of December. As a result, General Motors (GM 36.62, +1.48), Ford Motor (F 13.11, +0.52), and Nissan Motor (NSANY 20.49, +0.24) are all up between 1.0% and 4.2%. Tesla Motors (TSLA 224.29, +7.28) has been able to ride on the coattails of its peers despite missing its Q4 delivery targets. The stock is higher by 3.2%.

Materials (+0.7%), utilities (+0.6%), and real estate (+0.6%) also outperform the broader market, while the heavily-weighted financial (+0.2%) and technology (+0.3%) sectors lag.

10:30 am: [BRIEFING.COM]

In precious metals, gold was on track to hit its highest level in ~3 weeks on notable dollar index weakness
Feb 2017 gold futures were up $3.10 (+0.3%) around the $1165.10/oz level
Mar 2017 silver futures were up $0.05 (+0.3%) around the $16.46/oz level
The dollar index retreated from yesterday's 14-year high, provided support to precious metals
Commodities, as measured by the Bloomberg Commodity Index, were +0.6% around the 86.61 level
Crude oil futures were nearly unchanged after rallying as much as +0.5%, reversing, & trading as low as -0.3% in a volatile morning pit trading session
Feb 2017 crude oil futures were down about $0.02 (-0.04%) around the $52.32/barrel level
API data will be released today after the bell.
Due to Monday's holiday, EIA petroleum data will be released at 11:00 am ET tomorrow.
Contributing factors influencing price action in oil:
Kuwait's state-owned oil producer stated late yesterday they will be begin production cuts during 1Q17.
Consensus expectations call for crude prices to rise to $60/barrel by the end of this year, assuming OPEC/non-OPEC members follow through with the cuts
As the dollar index continues to rise, along with a pickup in US drilling activity could limit upside potential.
Also providing support for crude is the expectation for EIA inventory data on oil stocks to show a 1.7 mln barrel draw on Thursday.
An OPEC committee meeting to monitor compliance with the agreement is scheduled for Jan. 21-22 in Vienna.
Reflecting a tightening market, Saudi Arabia is expected to raise the official selling price for its crude to Asia in Feb.
Natural gas extended yesterday's notable 10% drop ahead of tomorrow's EIA inventory data
Feb 2017 natural gas futures were down about $0.06 (-1.7%) around the $3.26/MMBtu level
EIA natural gas inventory will be released tomorrow at its normally scheduled time of 10:30 am ET.
An updated outlook announced by the National Weather Service on Monday showed warmer-than-usual weather spreading across the southern half of the U.S. and into parts of the Midwest & Northeast by mid-Jan, largely responsible for the substantial drop natural gas yesterday.
Base metal copper experienced a notable rally in morning pit trading
Mar 2017 copper futures were up $0.06 (+2.6%) around the $2.55/oz level

9:55 am:

[BRIEFING.COM] Equity indices continue drifting near their opening levels with the Nasdaq (+0.5%) trading just ahead of the S&P 500 (+0.4%).

Biotechnology has contributed to the early outperformance in the Nasdaq, evidenced by a 1.1% gain in the iShares Nasdaq Biotechnology ETF (IBB 273.20, +2.96). However, the broader health care sector (+0.4%) trades in line with the S&P 500.

As for technology (+0.3%), the top-weighted group sits just behind the broader market amid a mixed showing from large cap components like Apple (AAPL 116.36, +0.21), Microsoft (MSFT 62.44, -0.14), and Intel (INTC 36.64, +0.04).

9:35 am:

[BRIEFING.COM] The major averages began the day with modest gains. The S&P 500 trades higher by 0.4% with ten of eleven sectors contributing to the early advance.

Heavily-weighted sectors like consumer discretionary (+0.6%) and industrials (+0.5%) have shown early strength while the remaining groups trade closer to their flat lines. The telecom services sector (-0.3%) holds a modest loss after ending yesterday's session in the lead.

Treasuries faced some intraday selling yesterday before ending flat. The 10-yr note has retreated this morning with its yield rising two basis points to 2.47%.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +2.90.

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

In corporate news, Tesla Motors (TSLA 214.50, -2.49) has fallen 1.2% after missing its Q4 delivery targets.

U.S. Treasuries are under pressure this morning, with the 10-yr yield up two basis points to 2.46%.

Today's economic data will include December auto and truck sales, which will be reported throughout the day. Separately, the December FOMC Minutes will be released at 14:00 E.T.

8:53 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +5.60.

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

Equity indices in the Asia-Pacific region ended Wednesday on a mostly higher note with Japan's Nikkei (+2.5%) showing relative strength after being closed on Tuesday. The Nikkei climbed alongside weakness in the yen, but the Japanese currency reversed course shortly after the close, pressuring the dollar/yen pair to a low near 117.35. Elsewhere, the People's Bank of China lowered the yuan midpoint to 6.9526, near levels not seen since May 2008.

Economic data was limited:
Japan's December Manufacturing PMI 52.4 (expected 51.9; last 51.9)
India's December Services PMI 46.8 (last 46.7)

---Equity Markets---

Japan's Nikkei climbed 2.5% amid broad strength. JTEKT, JFE Holdings, SUMCO, Yokohama Rubber, NGK Insulators, J Front Retailing, and Suzuki Motor gained between 4.6% and 5.6%. Toshiba remained weak, falling 2.1%.
Hong Kong's Hang Seng shed 0.1%. Financials like China Life Insurance, ICBC, Hang Seng Bank, Ping An Insurance, and SHK Properties lost between 0.3% and 1.0%. Energy-related names had a good showing with China Shenhua Energy, Kunlun Energy, and CNOOC climbing between 0.3% and 3.4%.
China's Shanghai Composite advanced 0.7%. Aucma, Aerosun, Nuode Investment, Shanghai Potevio, and Lawton Development gained between 6.6% and 10.0%.
India's Sensex settled just below its flat line. Financials lagged with ICICI Bank, SBI, and AXIS Bank falling between 0.4% and 1.3%. On the upside, Bharti Airtel spiked 3.5%, erasing its entire decline from Tuesday.

Major European indices trade near their flat lines. It is worth noting that French presidential candidate Marine Le Pen said she would seek a return to floating currencies in the eurozone, akin to what was in place before the euro. The single currency has taken the news in stride, trading higher by 0.3% against the dollar at 1.0435.

In economic data:
Eurozone December CPI +1.1% year-over-year (consensus 1.0%; last 0.6%) and Core CPI +0.9% year-over-year (expected 0.8%; previous 0.8%). December Services PMI 53.7 (expected 53.1; previous 53.1)
Germany's December Services PMI 54.3 (consensus 53.8; prior 53.8)
UK's November Mortgage Lending GBP3.20 billion (expected GBP3.50 billion; last GBP3.20 billion), Net Lending to Individuals GBP5.10 billion (expected GBP4.90 billion; last GBP4.90 billion), and December Construction PMI 54.2 (consensus 52.8; last 52.8)
France's December Services PMI 54.3 (expected 52.8; prior 52.8) and December Consumer Confidence held at 99, as expected
Italy's December Services PMI 52.3 (consensus 52.7; last 53.3)
Spain's Services PMI 55.0 (expected 54.8; last 55.1) and Unemployment Change -86,800 (expected -44,200; last 24,800)

---Equity Markets---

Germany's DAX is lower by 0.1% with exporters leading the retreat. Daimler, Volkswagen, BMW, and Continental are down between 0.6% and 1.3%. Financials have shown strength as Deutsche Bank rallies 3.0% while Commerzbank and Allianz display respective gains of 0.4% and 0.8%.
France's CAC trades near its flat line. Automakers Renault and Peugeot are both down near 1.0% while select bank shares outperform. BNP Paribas and Credit Agricole hold respective gains of 1.7% and 0.9%.
UK's FTSE is also trading near its flat line. Next has plunged 12.1% in reaction to weak results and guidance. Other consumer names have followed suit with Marks & Spencer, Burberry, and Dixons Carphone falling between 1.9% and 4.3%. Homebuilders Barratt Development, Persimmon, and Taylor Wimpey outperform following today's construction data. The three names are up between 2.3% and 3.1%.

8:29 am: [BRIEFING.COM] S&P futures vs fair value: +6.30. Nasdaq futures vs fair value: +7.60.

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

On the earnings front, UniFirst (UNF 145.05, +0.05) remains unchanged despite missing top and bottom line estimates. More companies will be reporting after today's close including MTS Systems (MTSC 56.70, 0.00), Mistras Group (MG 25.71, 0.00), Resources Connection (RECN 19.45, 0.00), Sonic (SONC 26.09, 0.00), and Landec (LNDC 13.80, 0.00).

Today's economic data will include December auto and truck sales, which will be reported throughout the day. Separately, the December FOMC Minutes will be released at 14:00 E.T.

8:10 am: [BRIEFING.COM] S&P futures vs fair value: +5.30. Nasdaq futures vs fair value: +6.40.

Equity futures are slightly higher this morning, with the S&P 500 futures trading five points above fair value. Overseas markets were mixed overnight, with strength in Asia and more subdued trading in Europe following CPI and PMI data that came in above expectations.

Crude oil is up 0.5% to $52.61/bbl this morning after a volatile session yesterday, which saw oil reverse early gains on a few factors, including some questions about compliance with the supply caps agreed to late last year.

U.S. Treasuries are under modest pressure, with the 10-yr yield up one basis point to 2.46%.

Today's economic data will include December auto and truck sales, which will be reported throughout the day. Separately, the December FOMC Minutes will be released at 14:00 E.T.

In U.S. corporate news of note:

Tesla Motors (TSLA 212.60, -4.39): -2.0% after missing its Q4 delivery targets.
IDEXX Laboratories (IDXX 118.51, +0.91): +0.8% after joining the S&P 500.
Chemours (CC 21.48, +0.26): +1.2% after being added to the S&P MidCap 400.
Shake Shack (SHAK 36.13, 0.00): unch after joining the S&P SmallCap 600.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Wednesday on a mostly higher note. Japan's Nikkei +2.5%, Hong Kong's Hang Seng -0.1%, China's Shanghai Composite +0.7%, India's Sensex unch.
In economic data:
Japan's December Manufacturing PMI 52.4 (expected 51.9; last 51.9)
India's December Services PMI 46.8 (last 46.7)
In news:
The People's Bank of China lowered the yuan midpoint to 6.9526, near levels not seen since May 2008.

Major European indices trade near their flat lines with Germany's DAX showing relative weakness. UK's FTSE -0.1%, Germany's DAX -0.3%, France's CAC -0.1%.
In economic data:
Eurozone December CPI +1.1% year-over-year (consensus 1.0%; last 0.6%) and Core CPI +0.9% year-over-year (expected 0.8%; previous 0.8%). December Services PMI 53.7 (expected 53.1; previous 53.1)
Germany's December Services PMI 54.3 (consensus 53.8; prior 53.8)
UK's November Mortgage Lending GBP3.20 billion (expected GBP3.50 billion; last GBP3.20 billion), Net Lending to Individuals GBP5.10 billion (expected GBP4.90 billion; last GBP4.90 billion), and December Construction PMI 54.2 (consensus 52.8; last 52.8)
France's December Services PMI 54.3 (expected 52.8; prior 52.8) and December Consumer Confidence held at 99, as expected
Italy's December Services PMI 52.3 (consensus 52.7; last 53.3)
Spain's Services PMI 55.0 (expected 54.8; last 55.1) and Unemployment Change -86,800 (expected -44,200; last 24,800)
In news:
French presidential candidate Marine Le Pen said she would seek a return to floating currencies in the eurozone, akin to what was in place before the euro. The single currency has taken the news in stride, trading higher by 0.3% against the dollar at 1.0435.

5:59 am: [BRIEFING.COM] S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +2.30.

5:59 am: [BRIEFING.COM] Nikkei...19594...+479.80...+2.50%. Hang Seng...22134.5...-15.90...-0.10%.

5:59 am: [BRIEFING.COM] FTSE...7174.05...-3.80...-0.10%. DAX...11554.82...-29.40...-0.30%.

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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