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 Post subject: January 9th Monday Trade Results - No Trades
PostPosted: Mon Jan 09, 2017 9:03 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)
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http://twitter.com/wrbtrader (24/7)

Quote:
No trades today and I did not monitor the markets today due to blood test appointments.

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


4:25 pm: [BRIEFING.COM] Equity indices closed Monday's session mixed. The Nasdaq (+0.2%) posted a modest gain, while the S&P 500 finished lower by 0.4%.

With news and economic data limited, the benchmark index remained within reach of its flat line throughout the session, only to dip a bit further in the final stretch.

There was a batch of earnings reports this morning, with Acuity Brands (AYI 202.51, -34.85), Commercial Metals (CMC 20.81, -1.79), and Global Payments (GPN 79.79, +5.34) all reporting before the opening bell. Acuity Brands and Commercial Metals lost 14.7% and 7.9%, respectively, after missing top and bottom line estimates while Global Payments added 7.2% after beating expectations and issuing positive guidance. The fourth-quarter earnings season will heat up this week with several banks set to report their results on Friday.

Eight out of eleven sectors finished the trading day in negative territory, with the energy sector (-1.5%) closing at the bottom of the leaderboard. The sector faced an uphill climb from the start as crude oil opened the day deep in negative territory amid growing concerns that the OPEC, non-OPEC supply cap has been implemented at slower-than-expected pace. In addition, reports indicated that the recent growth in U.S. production was also ruffling some investors' feathers. The commodity closed its trading day 3.8% lower at $51.94/bbl. Financials (-0.8%), industrials (-0.7%), and consumer discretionary (-0.1%) rounded out the cyclical underachievers.

On the countercyclical side, four out of five spaces finished in the red. Utilities (-1.3%) retreated the furthest, as telecom services (-1.1%), consumer staples (-0.7%), and real estate (-0.6%) performed slightly better. Heath care (+0.4%) was the lone non-cyclical representative in green territory, bucking the trend on the back of a solid showing from the biotechnology industry. The iShares Biotechnology ETF (IBB 284.07, +3.72) increased 1.4% on big gains from names like Amgen (AMGN 158.84, +2.06), Biogen (BIIB 299.02, +4.02), and Vertex Pharmaceuticals (VRTX 82.86, +3.47). The three names posted gains between 1.3% and 4.3%.

The top-weighted technology sector (+0.3%) also finished in positive territory after a solid showing from the sector's heaviest component, Apple (AAPL 118.99, +1.08), which closed higher by 0.9%. Chipmakers also aided the tech sector, evidenced by the 1.1% gain in the PHLX Semiconductor Index. The materials (unch) and consumer discretionary (-0.1%) sectors rounded out the day's outperformers.

U.S. Treasuries ended the day near their session high that was achieved early in the morning. The 10-yr yield closed five basis points lower at 2.37%. Also of note, the U.S. Dollar Index (101.95, -0.22) fell 0.2% while gold increased by 0.8%. The precious metal finished at $1,183.00/ozt.

Reviewing today's economic data:

Consumer Credit report for November
Showed an increase of $24.5 billion while the Briefing.com consensus expected growth of $18.0 billion.
The prior month's credit growth was revised to $16.2 billion from $16.0 billion.
The key takeaway from the report is that consumer credit -- both revolving and nonrevolving -- continues to expand, providing fuel for a potential increase in economic activity.

Tomorrow's economic data will include November Job Openings (JOLTS) and November Wholesale Inventories (Briefing.com consensus 0.9%). Both reports will be released at 10:00 am E.T.

Russell 2000 UNCH YTD
Dow Jones Industrial Average +0.6% YTD
S&P 500 +1.3% YTD
Nasdaq Composite +2.8% YTD

3:35 pm: [BRIEFING.COM]

The dollar index slid lower in morning trade and remained in the red for the afternoon session, which helped give somewhat of a boost to some metals
However, this did nothing for the energy space
Oil and natural sold off notably today and closed near today's lows
Feb WTI crude oil finished the day -3.8% at $51.94/barrel, while, in other energy, Feb natural gas tanked -5.8% to end at $3.10/MMBtu
Precious metals held some gains
Feb gold rose 1% today to finish the session at $1184.80/oz, while Mar silver gained 1% to $16.68/oz
Meanwhile, in base metals, Mar copper lost 0.4% to end the day at $2.54/lb

3:00 pm:

[BRIEFING.COM] The stock market is poised for a lower close with only one hour remaining in today's session. The S&P 500 trades lower by 0.3%, while the Nasdaq (+0.2%) outperforms.

Eight out of eleven sectors are in negative territory, with health care (+0.5%), technology (+0.2%), and materials (+0.1%) bucking the market's bearish trend.

Separately, the Consumer Credit report for November, which was just released, showed an increase of $24.5 billion while the Briefing.com consensus expected growth of $18.0 billion. The prior month's credit growth was revised to $16.2 billion from $16.0 billion.

2:30 pm:

[BRIEFING.COM] Equity indices remain mixed as the major averages hover near their recent levels. The S&P 500 is down 0.3%, while the Nasdaq is higher by 0.2%.

Health care (+0.5%) has claimed the top spot on today's leaderboard, while technology (+0.3%) and materials (+0.3%) compete for second place. The remaining eight sectors are in negative territory, with utilities (-1.2%) fighting to keep ahead of the energy sector (-1.5%) which is in last place. Energy has been at the back of the pack since the opening bell, unable to counter crude oil's retreat. WTI crude has fallen 3.2% to $52.29/bbl.

The Treasury market has been stagnant after an uptick early this morning. The 10-yr yield remains lower by five basis points at 2.37%.

Today's lone economic report, November Consumer Credit, will be released at 3:00 pm ET. The report is expected to have no trading impact.

1:55 pm:

[BRIEFING.COM] Equity indices continue hovering near their recent levels with the S&P 500 showing a loss of 0.2%.

Heavily-weighted sectors like energy (-1.4%), industrials (-0.6%), and financials (-0.3%) have struggled since the start, but their weakness has had a limited impact on the broader market, considering technology (+0.4%) and health care (+0.5%) have held gains throughout the day. Together, the two outperformers account for 34.5% of the entire S&P 500.

The cautious tone in the stock market comes amid yet another uptick for gold futures. Gold ended its pit session higher by 1.0% at $1184.80/ozt, extending its 2017 gain to 4.4% after climbing 7.1% in 2016. The yellow metal likely drew some strength from today's 0.2% decline in the U.S. Dollar Index (102.00, -0.22).

Treasuries sit near their highs with the 10-yr yield down five basis points at 2.37%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices remain mixed at this time as a rally in tech & healthcare leads the Nasdaq Composite higher.

A look inside the Dow Jones Industrial Average shows that Exxon Mobil (XOM 86.62, -1.87), Chevron (CVX 115.44, -1.40), & Verizon (VZ 52.70, -0.56) are underperforming. Exxon & Chevron are dragging in negative territory as a 3% decline in crude oil futures weighs on energy stocks, while Verizon is lower as telecom's fall under selling pressure in today's session.

Conversely, Merck & Co (MRK 61.26, +0.99) is the Dow's top gainer as health care outperforms on the heels of several sector M&A deals announced this morning as well as the kicking off of the annual J.P. Morgan Healthcare Conference, taking place in San Francisco, CA.

Today's pullback has trimmed 2017's DJIA gains so far to 0.75%

1:00 pm:

[BRIEFING.COM] The major averages continue near their recent levels as the S&P 500 (-0.1%) sits just below its flat line. The Nasdaq (+0.3%) continues to hold the upper hand on its peers, hovering near its session high.

The new trading week began with a mixed showing from overseas markets while crude oil has retreated 2.9% to $52.40/bbl amid growing concerns that the supply cap agreement agreed to late last year between OPEC and non-OPEC producers is being implemented slower than expected. In addition, a Reuters article commented on the recent growth in U.S. production, likely contributing to the cautious tone in the market. The decline in oil has sent the energy sector (-1.3%) to the bottom of today's leaderboard while six of the remaining ten sectors also trade in negative territory.

Four of five non-cyclical sectors trade in the red, with health care bucking the trend. The sector has added 0.4% amid a solid showing by the biotechnology industry. The iShares Nasdaq Biotechnology ETF (IBB 282.37, +2.11) is higher by 0.8%, with its some of its heaviest components like Amgen (AMGN 158.08, +1.31) and Gilead Sciences (GILD 75.99, +0.50) posting sizable gains. The two names are up 0.9% and 0.7%, respectively. Another biotech name, Celgene (CELG 119.19, -0.45) is down 0.4% despite boosting its guidance for fiscal year 2016 and 2017.

On the cyclical side, the materials sector (+0.5%) has claimed the top spot on today's leaderboard, followed closely by the top-weighted technology sector (+0.5%). Technology has capitalized on a solid showing from large cap components such as Apple (AAPL 119.16, +1.25), Facebook (FB 125.00, +1.63), and Oracle (ORCL 39.27, +0.82). The three are all up between 1.1% and 2.1%. The sector has also been the beneficiary of a solid showing from chipmakers, who have pushed the PHLX Semiconductor Index higher by 1.2%. The consumer discretionary sector is also in positive territory, holding on to a modest 0.1% gain.

On the earnings front, Acuity Brands (AYI 203.41, -33.73) and Commercial Metals (CMC 21.30, -1.3) are down by 14.2% and 5.8%, respectively, after missing top and bottom line estimates. On the flip side, Global Payments (GPN 78.54, +5.14) has added 6.9% after beating expectations and issuing positive guidance.

U.S. Treasuries saw an uptick in buying interest early this morning, but haven't moved much since. The 10-yr yield is down four basis points to 2.38%. Also of note, the U.S. Dollar Index (101.99, -0.18) has dropped by 0.2% while gold has increased by 0.8%. The yellow metal trades at $1,182.80/ozt.

Today's economic data will be limited to November Consumer Credit, which will be released this afternoon at 3:00 pm ET.

12:30 pm:

[BRIEFING.COM] The S&P 500 hovers near its recent level, while the Nasdaq has built on its lead. The tech-heavy index has added hit a fresh session high in recent action and is currently up 0.3%.

Nasdaq components are firing on all cylinders early this afternoon. Large cap components such as Apple (AAPL 118.92, +1.04), Facebook (FB 125.00, +1.63), and Oracle (ORCL 39.36, +0.91) are all up between 0.9% and 3.0%, while chipmakers have pushed the PHLX Semiconductor Index higher by 1.2%. The biotechnology industry has also contributed to the Nasdaq's outperformance, evidenced by the 0.3% increase in the iShares Nasdaq Biotechnology ETF (IBB 281.12, +0.87). Naturally, the technology (+0.4%) and health care (+0.2%) sectors are also trading higher.

U.S. Treasuries hover near their session highs amid a poor showing from the defensive sectors. The 10-yr yield is lower by four basis points at 2.38%.

12:00 pm:

[BRIEFING.COM] Equity indices haven't changed much since the last update, with the S&P 500 lower by 0.2%. The Nasdaq remains in the green, up 0.2%.

Cyclical sectors have a slight edge over their defensive peers as three of the six are posting gains. Health care remains the only non-cyclical sector up on the day, with a modest uptick of 0.1%. Sector standings remain much the same as the ends of the leaderboard are represented by materials (+0.7%) at the top and energy (-1.4%) at the bottom.

Alibaba (BABA 94.79, +0.86) is higher by 1.0% preceding President-elect Trump's meeting with the company's founder Jack Ma. The meeting's agenda is expected to include Alibaba's latest US expansion plans, including creating one million U.S. jobs over the next five years.

11:30 am:

[BRIEFING.COM] The major averages remain near their recent levels, with the Dow (-0.1%) 65 points shy of the 20k mark after coming within a point of the milestone on Friday.

DuPont (DD 75.14, +1.76) leads all Dow components with a 2.4% gain. Apple (AAPL 119.25, +1.34) follows in second place on the Dow leaderboard, with Intel (INTC 36.84, +0.36) rounding out the top three. The two tech heavy-weights are up 1.3% and 1.1%, respectively, giving the tech sector (+0.5%) an edge over its peers.

Conversely, Coca-Cola (KO 41.18, -0.56) and Procter & Gamble (PG 84.17, -0.86) are among the worst-performing Dow components as the two names are both down near 1.0%. The underperformance comes after the companies were downgraded to 'Sell' from 'Neutral' at Goldman early this morning. The consumer staples sector (-0.7%) sits near the bottom of today's leaderboard.

11:00 am:

[BRIEFING.COM] The stock market has ticked up slightly in recent action, with the S&P 500 (-0.1%) sitting just below its flat line. The Nasdaq (+0.2%) continues to outperform, hovering near its session high.

Seven of eleven sectors are in the red this morning, with the energy sector (-1.0%) at the bottom of today's leaderboard. The sector has been weighed down by crude oil, which is down 2.5% at $52.62/bbl. Most non-cyclical sectors join energy in negative territory with the consumer staples, utilities, telecom services, and real estate sectors all down between 0.4% and 0.6%.

The materials sector (+0.7%) is at the top of the standings, followed by technology (+0.3%) and health care (+0.2%), the latter of which has profited from biotechnology's positive performance. The iShares Nasdaq Biotechnology ETF (IBB 282.36, +2.30) is higher by 0.8%, with good showings from Amgen (AMGN 157.61, +0.83) and Gilead Sciences (GILD 75.78, +0.29). The two names are up 0.5% and 0.3%, respectively.

10:40 am: [BRIEFING.COM]

Oil and gas futures are notably weak this morning
WTI crude oil is feeling pressure on concerns of higher near-term U.S. oil production, which would negatively affect the OPEC/non-OPEC production cuts recently announced
Feb WTI crude oil is no -2.6% at $56.59/barrel
In other energy, Feb natural gas are trading 4.8% lower at $3.13/MMBtu, at least partially driven by weather changes/forecasts
The dollar index is modestly lower in current trade, now -0.1% at 102.17, which is helping give a little boost to some commodities
In the metals space...
Feb gold is +0.4% at $11784.0/oz, while Mar silver is +0.3% at $16.56/oz
Mar copper is in the red, now -0.7% at $2.53/lb

9:55 am:

[BRIEFING.COM] The major averages remain near their opening levels with the S&P 500 (-0.2%) showing a modest downtick amid losses in eight of eleven sectors.

The energy space (-1.3%) remains at the bottom of the leaderboard while the financial sector has narrowed its loss to 0.5% after being down nearly 1.0% at the start. On the flip side, the technology sector (+0.4%) has extended its gain thanks to a strong early showing from large cap components like Apple (AAPL 119.18, +1.27), Oracle (ORCL 39.14, +0.69), and Intel (INTC 36.77, +0.29). The three names are up between 0.8% and 1.8%.

Elsewhere, the U.S. Dollar Index (102.25, +0.03) sits near its flat line after posting two consecutive weekly losses.

9:40 am:

[BRIEFING.COM] The major averages began the trading day on a mixed note. The S&P 500 (-0.2%) holds a modest loss while the Nasdaq (+0.1%) outperforms thanks to relative strength in technology and biotechnology.

The technology sector (+0.2%) trades ahead of the remaining groups while the second-largest sector by weight--financials (-0.9%)--is among today's weakest performers. Outside of technology, health care (+0.1%) and consumer discretionary (+0.1%) are the only sectors trading in the green.

On the downside, the energy sector (-1.0%) is the weakest performer due to a 2.1% decline in crude oil, which has slid to $52.86/bbl.

Treasuries hold gains with the 10-yr yield down five basis points at 2.37%.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: +1.40.

The equity market is on track for a lower open as the S&P 500 futures trade four points below fair value.

On the earnings front, Acuity Brands (AYI 215.00, -22.36) and Commercial Metals (CMC 22.00, -0.60) are down by 9.4% and 2.7%, respectively after missing top and bottom line estimates. On the flip side, Global Payments (GPN 78.40, +3.95) has added 5.3% after beating on the top and bottom lines and issuing positive guidance.

Crude oil continues to fall, hitting its overnight session low in recent action. The commodity is down 2.3% at $52.94/bbl as the optimism surrounding OPEC and non-OPEC production cuts has been overcome by concerns about higher U.S. production.

U.S. Treasuries have seen an uptick in buying interest this morning, pushing the 10-yr yield lower by five basis points to 2.37%.

Today's economic data will be limited to November Consumer Credit, which will be released this afternoon at 3:00 pm ET.

8:55 am: [BRIEFING.COM] S&P futures vs fair value: -4.00. Nasdaq futures vs fair value: +0.60.

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

Equity indices in the Asia-Pacific region began the trading week on a mostly higher note while Japan's Nikkei was closed for Coming of Age Day. The closure has not prevented the yen from advancing 0.4% against the dollar to 116.51. Separately, China saw its sixth consecutive monthly decline in foreign reserves, which dropped to $3.01 trillion from $3.05 trillion.

In economic data:
Australia's November Building Approvals +7.0% month-over-month (expected 4.6%; last -11.8%) and December AIG Construction Index 47.0 (last 46.6). ANZ Job Advertisements -1.9% month-over-month (last 1.6%)

---Equity Markets---

Japan's Nikkei was closed.
Hong Kong's Hang Seng added 0.3% with gaming names contributing to the uptick. Galaxy Entertainment and Sands China posted respective gains of 4.3% and 2.8%. Property names also outperformed with China Overseas, Sino Land, Henderson Land, and Cheung Kong Property Holdings climbing between 0.7% and 1.8%.
China's Shanghai Composite climbed 0.5%. Shandong Lukang Pharmaceutical, Hebei Jinniu Chemical Industry, AVIC Heavy Machinery, and Jinxi Axle advanced between 5.6% and 7.6%.
India's Sensex shed 0.1%. Dr Reddy's Labs fell 3.0% after a recent show of relative strength while Asian Paints, Coal India, Lupin, and GAIL lost between 1.4% and 1.9%.

Major European indices trade in negative territory with Italy's MIB (-1.8%) leading the retreat amid weakness in bank stocks. Elsewhere, the UK's FTSE (+0.3%) outperforms amid a 1.1% dive in the pound (1.2157) against the dollar after British Prime Minister Theresa May reiterated her country will leave the single market.

In economic data:
Eurozone November Unemployment Rate held at 9.8%, as expected. January Sentix Investor Confidence 18.2 (expected 12.5; last 10.0)
Germany's November Industrial Production +0.4% month-over-month (expected 0.6%; last 0.5%) and November trade surplus EUR21.70 billion (expected surplus of EUR21.20 billion; last surplus of EUR20.60 billion). November Imports +3.5% month-over-month (expected 0.2%; last 1.2%) and Exports +3.9% month-over-month (consensus 0.5%; last 0.5%)
UK's December Halifax House Price Index +1.7% month-over-month (expected 0.2%; last 0.6%); +6.5% year-over-year (consensus 5.8%; last 6.0%)
Italy's November Unemployment Rate 11.9% (expected 11.6%; last 11.8%)
Swiss November Retail Sales +0.9% year-over-year (expected 0.4%; previous -0.7%)

---Equity Markets---

UK's FTSE is higher by 0.3% with miners and consumer names showing relative strength. Anglo American, BHP Billiton, Randgold Resources, and Fresnillo are up between 0.2% and 1.9% while Burberry, Imperial Brands, British American Tobacco, Unilever, Intercontinental Hotels, and Diageo have added between 0.7% and 1.6%.
Germany's DAX has given up 0.6%. Fresenius ST has tumbled 6.3% amid concerns the company will be negatively impacted by changes to Medicare coverage. Financials Commerzbank and Deutsche Bank are down 2.6% and 2.2%, respectively, while exporters are mixed. BMW and Daimler hold respective losses of 0.9% and 0.3% while Volkswagen is higher by 3.7% after reporting growth in 2016 deliveries.
France's CAC is down 0.8% with financials BNP Paribas, AXA, Societe Generale, and Credit Agricole showing losses between 1.9% and 2.6%. Select consumer names outperform with Kering, Danone, and Louis Vuitton up between 0.2% and 0.5%.
Italy's MIB trades down 1.8%. Unicredit, Banco Bpm, UBI Banca, Mediobanca, Intesa Sanpaolo, and Banca Pop Emilia Romagna show losses between 3.0% and 4.5%.

8:30 am: [BRIEFING.COM] S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: +3.10.

The stock market is on track for a modestly lower open as the S&P 500 futures trade two points below fair value.

In corporate news, Global Payments (GPN 78.50, +4.05) is higher by 5.4% after beating top and bottom line estimates and issuing positive guidance. lululemon athletica (LULU 66.71, -1.56) is down 2.3% in pre-market trade despite boosting the low end of its guidance. Elsewhere in the retail sector, Urban Outfitters (URBN 26.97, -0.45) has also fallen, losing 1.6% despite reporting that comparable retail sales were 1.5% higher for the Nov/Dec period.

U.S Treasuries continue to see strong buying interest. The 10-yr yield is down four basis points to 2.38%.

8:04 am: [BRIEFING.COM] S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: +2.30.

The S&P 500 futures trade three points below fair value as global equity markets begin the week on a down note.

U.S. Treasuries have seen an uptick in buying interest this morning with the 10-yr yield down two basis points to 2.40%.

Conversely, crude oil is under selling pressure, down 1.9% at $52.94/bbl as the optimism surrounding OPEC and non-OPEC production cuts has been overcome by concerns about higher U.S. production.

Today's economic data will be limited to November Consumer Credit, which will be released this afternoon at 3:00 pm ET.

In U.S. corporate news of note:

UnitedHealth (UNH 162.00, -0.41): -0.3% after acquiring Surgical Care Affiliates (SCAI 48.75, 0.00) for $57.00/share in cash.
Coca-Cola (KO 41.18, -0.56): -1.3% after the stock was downgraded to Sell from Neutral at Goldman.
American Express (AXP 76.20, +0.73): +1.0% after the stock was upgraded to Buy from Neutral at Bank of America/Merrill Lynch.
Global Payments (GPN 76.50, +2.05): +2.8% after beating on the top and bottom lines and issuing positive guidance.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the trading week on a mostly higher note while Japan's Nikkei was closed for Coming of Age Day. Hong Kong's Hang Seng +0.3%, China's Shanghai Composite +0.5%, India's Sensex -0.1%.
In economic data:
Australia's November Building Approvals +7.0% month-over-month (expected 4.6%; last -11.8%) and December AIG Construction Index 47.0 (last 46.6). ANZ Job Advertisements -1.9% month-over-month (last 1.6%)
In news:
China saw its sixth consecutive monthly decline in foreign reserves, which dropped to $3.01 trillion from $3.05 trillion.
The yen has advanced 0.3% against the dollar to 116.70 despite Japan's Nikkei being closed for Coming of Age Day.

Major European indices trade in negative territory with Italy's MIB leading the retreat amid weakness in bank stocks. UK's FTSE +0.2%, Germany's DAX -0.4%, France's CAC -0.7%, Italy's MIB -1.9%.
In economic data:
Eurozone November Unemployment Rate held at 9.8%, as expected. January Sentix Investor Confidence 18.2 (expected 12.5; last 10.0)
Germany's November Industrial Production +0.4% month-over-month (expected 0.6%; last 0.5%) and November trade surplus EUR21.70 billion (expected surplus of EUR21.20 billion; last surplus of EUR20.60 billion). November Imports +3.5% month-over-month (expected 0.2%; last 1.2%) and Exports +3.9% month-over-month (consensus 0.5%; last 0.5%)
UK's December Halifax House Price Index +1.7% month-over-month (expected 0.2%; last 0.6%); +6.5% year-over-year (consensus 5.8%; last 6.0%)
Italy's November Unemployment Rate 11.9% (expected 11.6%; last 11.8%)
Swiss November Retail Sales +0.9% year-over-year (expected 0.4%; previous -0.7%)
In news:
The pound is down 1.1% against the dollar to 1.2157 after British Prime Minister Theresa May reiterated her country will leave the single market.

5:58 am: [BRIEFING.COM] S&P futures vs fair value: -2.30. Nasdaq futures vs fair value: +2.10.

5:58 am: [BRIEFING.COM] Nikkei...19454...-66.40...-0.30%. Hang Seng...22559...+55.70...+0.30%.

5:58 am: [BRIEFING.COM] FTSE...7223.38...+13.30...+0.20%. DAX...11552.77...-46.20...-0.40%.

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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