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 Post subject: January 30th Monday Trade Results - No Trades
PostPosted: Tue Jan 31, 2017 2:46 am 
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Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
Price Action Trading (no technical indicators)
Phone: +1 708 572-4885
Free Chat Room: http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164
Archive Real-Time Chat Logs (timestamp, entries/exits, position size): http://www.thestrategylab.com/ftchat/forum/viewforum.php?f=20
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Business Hours: 8am - 5pm est (Mon - Fri)
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Quote:
No trades today due to several appointments spread out throughout the trading day that included one of them an appointment for blood work. Very nice price movement in the Emini futures the first 30mins of the trading session after the opening bell that included several Down WRB Hidden GAP intervals and a short signal that I missed.

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


4:25 pm: [BRIEFING.COM] Investors decided to err on the side of caution to open a week full of earnings reports and influential economic data. The S&P 500 finished the day lower by 0.6%, while the Nasdaq (-0.8%) closed just a tick below the benchmark index.

Equity indices faced broad-based selling pressure from the start of Monday's session, with many fingers pointing to President Trump's executive order, which suspended the U.S. refugee program and temporarily restricted nationals of seven countries--Iran, Iraq, Libya, Somalia, Sudan, Syria, and Yemen--from entering the United States, as the driver of the bearish tone.

It is a defensible position, as that order has engendered some concerns about protectionism taking root and has detracted from the market's preferred policy focus of corporate tax reform, but the market will face a full event calendar this week, so some caution is warranted.

The Federal Reserve will release its latest policy statement on Wednesday, which, combined with Friday's release of the January Employment Situation report (Briefing.com consensus 170K), could build a case for a rate hike at the subsequent FOMC meeting. In addition, a full slate of quarterly reports awaits with Apple (AAPL 121.63, -0.32) scheduled to release its results after Tuesday's closing bell.

Today's risk-off tone was most apparent in the stock market while Treasuries finished the day little changed with the benchmark 10-yr yield remaining at 2.48%. The U.S. Dollar Index finished just below its flat line with a loss of 0.1%, masking the dollar's 1.2% decline against the Japanese yen (113.73). It is worth noting the Bank of Japan will release its latest policy statement overnight.

Nine of eleven spaces finished the day in negative territory. Countercyclical sectors populated the upper half of Monday's leaderboard, with consumer staples (+0.1%) eking out a slim gain. The consumer discretionary sector (-0.1%) was the best performer on the cyclical side, finishing just a tick from its flat line. Walt Disney (DIS 110.94, +1.64) underpinned the sector's performance, adding 1.5%, after the company's stock was upgraded to 'Overweight' from 'Equal-Weight' at Morgan Stanley.

The energy sector occupied the bottom spot on the leaderboard, finishing 1.8% lower after pressure on multiple fronts. On the earnings side, Enterprise Products' (EPD 28.45, -0.64) mixed earnings report was met with a downbeat response, pushing the company's stock lower by 2.2%. Crude oil also hurt the energy space, closing its trading day 1.1% lower at $52.62/bbl.

The top-weighted technology sector (-0.8%) finished a tick lower than the benchmark index with top components like Alphabet (GOOGL 823.83, -21.20), Microsoft (MSFT 65.13, -0.65), and Facebook (FB 130.98, -1.20) falling between 0.9% and 2.5%.

Today's economic data included December Personal Income/Spending and December Pending Home Sales:

December personal income rose 0.3% while the Briefing.com consensus expected an increase of 0.4%. Meanwhile, December personal spending increased 0.5% while the Briefing.com consensus expected a reading of 0.4%. The November Personal Spending reading was left unrevised at 0.2% while November Personal Income was revised to 0.1% from 0.0%. Core PCE prices for December rose 0.1% (Briefing.com consensus 0.2%), while the November reading was left unrevised at 0.0%.
With spending rising faster than income, the drop in the personal savings rate suggests consumers were spending out of savings -- something that wouldn't typically be done unless it was out of necessity or consumers were feeling better about their income prospects.
Pending Home Sales for December rose 1.6% while the Briefing.com consensus expected an increase of 1.3%. Today's reading follows a 2.5% downtick in November.

Tomorrow's economic data will include the fourth quarter Employment Cost Index (Briefing.com consensus 0.6%) at 8:30 am ET, the November S&P Case Schiller Home Price Index (Briefing.com consensus 5.0%) at 9:00 am ET, January Chicago PMI (Briefing.com consensus 55.0) at 9:45 am ET, and January Consumer Confidence (Briefing.com consensus 112.5) at 10:00 am ET.

Russell 2000 -0.3% YTD
Dow Jones Industrial Average +1.1% YTD
S&P 500 1.9% YTD
Nasdaq Composite 4.3% YTD

3:30 pm: [BRIEFING.COM]

Crude oil doubled Friday's post-rig count data losses ahead of tomorrow's API release
Mar crude oil futures fell $0.56 (-1.1%) to $52.62/barrel
Upcoming data reminders:
Weekly API data will be released tomorrow at 4:30 pm ET.
Weekly EIA petroleum data will released this Wednesday at 10:30 am ET
Weekly Baker Hughes rig count data will be released this Friday at 1 pm ET.
Recap of Friday's rig data:
On Friday, Baker Hughes reported the total US rig count increased by 18 to 712 rigs, following last week's increase of 35 rigs
The number of active U.S. rigs drilling for oil rose by 15 to 566 rigs this week
Last week, the U.S. oil rig count increased by 29 to 551 rigs.
In the week prior to Friday, the rig count declined, but that followed 10 consecutive weekly prior increases
The oil rig count is at its highest level in ~14 months
It is worth noting that this pick-up in US activity could potentially cap oil price gains in the future
Natural gas extended Friday's losses on updated warmer weather forecasts across the US ahead of Thursday's EIA data
Mar natural gas closed $0.12 lower (-3.6%) at $3.23/MMBtu
Weekly EIA natural gas data will be released Thursday at 10:30 am ET.
In precious metals, gold snapped its 4-session losing streak after data showed PCE rose the most in ~2 years, ahead of the 2-day Fed meeting
Feb 2017 gold ended today's session up $5.00 (+0.4%) to $1193.20/oz
The PCE Price Index was up 1.6% year-over-year versus a 1.4% increase seen in Nov. That is tracking toward the Fed's longer-run target of 2.0%, which is what Fed officials will want to see to justify further rate hikes. The core PCE Price Index, which increased 0.1% in Dec (Briefing.com consensus +0.2%), was up 1.7% year-over-year, unchanged from Nov.
Mar 2017 silver closed today's session $0.02 higher (+0.1%) at $17.15/oz
The dollar index was -0.1% around the 100.41 level
Commodities, as measured by the Bloomberg Commodity Index, were -1.1% around the 87.03 level

3:05 pm:

[BRIEFING.COM] Equity indices remain solidly lower going into the final hour of action with the S&P 500 down 0.8%.

Looking ahead, this week will see a slew of influential economic reports. The February FOMC Rate Decision (Briefing.com consensus 0.625%) and January ISM Index (Briefing.com consensus 55.0) will be released on Wednesday, while January Nonfarm Payrolls (Briefing.com consensus 170k) and January Unemployment Rate (Briefing.com consensus 4.7%) will follow on Friday.

Crude oil finished its trading day 1.1% lower at $52.62/bbl, despite a downtick in the U.S. Dollar Index (100.43, -0.13). The commodity's downtick contributed to the relative weakness in the energy sector (-2.1%), which is set to end at the bottom of today's leaderboard, a position it has held since the opening bell.

2:30 pm:

[BRIEFING.COM] The major averages have ticked up off their recent levels, but they continue holding the bulk of today's losses with the S&P 500 down 0.9%.

Retailers have resisted the day's bearish trend, pushing the SPDR S&P 500 Retail ETF (XRT 42.74, +0.05) into positive territory as of late. Top retail components such as Costco (COST 162.75, +0.69), CST Brands (CST 48.15, +0.03), Kroger (KR 33.42, +0.07), and AutoNation (AN 52.52, +0.34) post gains between 0.1% and 0.7%. The consumer staples (-0.1%) sector sits just below its flat line, while consumer discretionary (-0.3%) has trimmed its loss to outperform the broader market.

U.S. Treasuries have returned to their flat lines in recent action, squandering their modest gains. The benchmark 10-yr yield is unchanged at 2.48%.

2:00 pm:

[BRIEFING.COM] The benchmark index hovers just above its session low this afternoon, showing a loss of 1.0%.

Sector standings remain much the same with energy (-2.2%) at the bottom of Monday's leaderboard and consumer staples (-0.2%) at the top. The heaviest sectors by weight, financials (-1.2%) and technology (-1.1%), trade in line with the benchmark index with most of their top components in the red. In the financial sector, Dow component American Express (AXP 76.97, +0.12) has bucked the trend, adding 0.2%. The stock was upgraded to 'Outperform' from 'Market Perform' at Keefe Bruyette this morning.

In corporate news, Rite Aid (RAD 5.74, -1.18) trades lower by 17.2% after agreeing to lower the value of its merger with Walgreens Boot Alliance (WBA 81.26, -0.24). Walgreens is also lower, but outperforms the broader market by losing just 0.3%.

1:30 pm:

[BRIEFING.COM] The major U.S. indices remain under heavy pressure to start the week as stocks pullback 1%.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 96.83, -2.16), DuPont (DD 76.13, -1.57), & Chevron (CVX 111.55, -2.24) are underperforming amid broad market weakness. DuPont is seeing noteworthy weakness following this morning's downgrade at Argus from Buy to Hold.

Conversely, Wal-Mart (WMT 66.17, +0.51) is the best-performing Dow component as consumer staples mostly see a reprieve amid today's selloff.

With today's decline, the DJIA has seen its 2017 gains reduced to 0.75%.

1:05 pm:

[BRIEFING.COM] The stock market has opened the week under selling pressure as investors digest some of President Trump's latest executive orders. The S&P 500 is lower by 1.0% while small caps underperform with the Russell 2000 falling 1.5%.

On Friday night, Mr. Trump ordered a temporary suspension of the U.S. refugee program in addition to barring travelers from seven countries-- Iran, Iraq, Libya, Somalia, Sudan, Syria and Yemen -- from entering the U.S. The executive order has raised global concerns over President Trump's protectionist agenda, which seems to have taken priority over the pro-growth promises of his campaign trail.

To be fair, this week will feature a heavy dose of economic data, a number of quarterly reports, and policy updates from the Bank of Japan and the Federal Reserve, so today's caution may be related to more than just one item.

Succumbing to Monday's broad selling pressure, all eleven sectors are in negative territory. Cyclical sectors have led the retreat, with energy (-2.3%) posting the widest loss. The space has been hurt by a downbeat response to Enterprise Products' (EPD 28.40, -0.68) quarterly earnings report and a 1.0% downtick in crude oil; the energy component currently trades at $52.63/bbl. The consumer discretionary space (-0.6%) is the only growth-sensitive space that trades ahead of the broader market thus far.

On the non-cyclical side, all five spaces outperform the benchmark index. Consumer staples (-0.2%) tops the day's leaderboard, while the remaining four spaces--health care, utilities, telecom services, and real estate--show losses between 0.5% and 0.7%.

Conversely, the Treasury market has profited from the risk-off tone with the benchmark 10-yr yield lower by one basis point at 2.48%. Larger gains have been recorded up front, with the 2-yr yield falling two basis points to 1.20%.

Today's economic data included December Personal Income and December Pending Home Sales:

December personal income rose 0.3% while the Briefing.com consensus expected an increase of 0.4%. Meanwhile, December personal spending increased 0.5% while the Briefing.com consensus expected a reading of 0.4%. The November Personal Spending reading was left unrevised at 0.2% while November Personal Income was revised to 0.1% from 0.0%. Core PCE prices for December rose 0.1% (Briefing.com consensus 0.2%), while the November reading was left unrevised at 0.0%.
With spending rising faster than income, the drop in the personal savings rate suggests consumers were spending out of savings -- something that wouldn't typically be done unless it was out of necessity or consumers were feeling better about their income prospects.
Pending Home Sales for December rose 1.6% while the Briefing.com consensus expected an increase of 1.3%. Today's reading follows a 2.5% downtick in November.

12:35 pm:

[BRIEFING.COM] The S&P 500 (-0.9%) hovers near its recent level while small caps underperform. The Russell 2000 currently holds a loss of 1.6%.

Financials (-1.2%) remain near the bottom of today's standings with all major components in the red. Heavyweights such as JPMorgan Chase (JPM 85.75, -1.18), Bank of America (BAC 22.84, -0.51), and Goldman Sachs (GS 233.20, -3.74) are all down between 1.3% and 2.2%.

The U.S. Dollar Index (100.46, -0.10) is down just 0.1%, which masks notable dollar weakness against the yen (113.69). The greenback has lost 1.2% against the Japanese currency, but trades little changed against the euro (1.0696). Meanwhile, gold has seen an uptick, increasing 0.6%. The yellow metal currently trades at $1,197.75/ozt.

12:00 pm:

[BRIEFING.COM] The S&P 500 remains near its recent level, showing a loss of 0.9%. The Nasdaq (-1.1%) has ticked up from its session low, but still sits below its peers.

The risk-off tone has given countercyclical sectors a leg up on their cyclical counterparts as all five show slimmer losses than the benchmark index. Real estate (-0.2%) sits at the top of today's leaderboard, while the remaining four defensive spaces--health care (-0.5%), consumer staples (-0.2%), utilities (-0.4%), and telecom services (-0.4%)--sit just behind today's leader.

On the cyclical side, consumer discretionary (-0.6%) trades ahead of its peers. Walt Disney (DIS 109.67, +0.37) is a pocket of relative strength, increasing 0.3%, after the company's stock was upgraded to 'Overweight' from 'Equal-Weight' at Morgan Stanley. Retailers have also held up relatively well, evidenced by the SPDR S&P 500 Retail ETF (XRT 42.53, -0.16), which has only lost 0.4%.

11:30 am:

[BRIEFING.COM] The major averages have stabilized in recent action after a steady slide following the opening bell. The S&P 500 and the Dow both hover near their session lows, showing losses around 1.0% apiece.

The Dow Jones Transportation Average (-2.0%) has underperformed the broader market thus far, with airlines leading the retreat; United Continental (UAL 70.72, -3.70), Southwest Airlines (LUV 51.52, -1.18), JetBlue Airways (JBLU 19.09, -0.56), and Delta Air Lines (DAL 47.89, -1.81) all show losses between 2.2% and 5.0%. Weakness among airlines has contributed to a 1.2% decline in the industrial sector.

Treasuries trade in the green, but the largest gains have been recorded up front. The 2-yr yield is down three basis points at 1.19% while the 10-yr yield sits one basis point lower at 2.47%.

11:00 am:

[BRIEFING.COM] Equity indices have hit fresh session lows in recent action. The S&P 500 is down 1.1%, while the Nasdaq (-1.4%) has slipped a bit further.

Earlier this morning, President Trump signed an executive order aimed at rolling back regulations. The new measure will require the removal of two existing federal regulations for every new regulation proposed. The action wasn't unexpected as the promise of reducing federal regulations was a staple of Mr. Trump's presidential campaign.

All eleven sectors are currently in negative territory, with energy (-2.0%) leading the retreat. The space has been hurt by a downbeat response to Enterprise Products' (EPD 28.79, -0.29) quarterly earnings report and a 1.1% downtick in crude oil; the energy component currently trades at $52.59/bbl. Other notable laggards include the top-weighted technology and financial sectors, which are down 1.3% and 1.5%, respectively.

10:30 am: [BRIEFING.COM]

Crude oil was on track to double Friday's losses ahead of tomorrow's API reading, last week's data showed the oil rig count is at its highest level since Nov 2015
Mar 2017 crude oil futures were down about $0.44 (-0.8%) around the $52.73/barrel level
Rig count data recap:
On Friday, Baker Hughes reported the total US rig count increased by 18 to 712 rigs, following last week's increase of 35 rigs
The number of active U.S. rigs drilling for oil rose by 15 to 566 rigs this week
Last week, the U.S. oil rig count increased by 29 to 551 rigs.
In the week prior to Friday, the rig count declined, but that followed 10 consecutive weekly prior increases
The oil rig count is at its highest level in ~14 months
It is worth noting that this pick-up in US activity could potentially cap oil price gains in the future
Upcoming data reminders:
Weekly API data will be released tomorrow at around 4:30 pm ET.
Weekly EIA petroleum data will released this Wednesday at 10:30 am ET
Weekly Baker Hughes rig count data will be released this Friday at 1 pm ET.
Natural gas extended Friday's losses on updated forecasts showing cold weather receding across much of the US in the coming weeks
Mar 2017 natural gas futures were down about $0.11 (-3.2%) around the $3.25/MMBtu level
Weekly EIA natural gas inventory data will be released this Thursday at 10:30 am ET
In precious metals, gold snapped its 4-day losing streak after data showed PCE rose the most in ~2 years, ahead of the 2-day Fed meeting
Feb 2017 gold futures were up about $7.80 (+0.7%) around the $1196.20/oz level
Dec Personal Income 0.3% vs Briefing.com consensus of 0.4%; Nov was 0.0%
Dec Personal Spending 0.5% vs Briefing.com consensus of 0.4%; Nov was 0.2%
The item of note was the PCE Price Index, which was up 1.6% year-over-year versus a 1.4% increase seen in November. That is tracking toward the Fed's longer-run target of 2.0%, which is what Fed officials will want to see to justify further rate hikes. The core PCE Price Index, which increased 0.1% in December (Briefing.com consensus +0.2%), was up 1.7% year-over-year, unchanged from Nov.
Mar 2017 silver futures were up about $0.10 +0.6%) around the $17.24/oz level
The dollar index was +0.2% around the 100.75 level
Commodities, as measured by the Bloomberg Commodity Index, were -0.9% around the 87.15 level

10:00 am:

[BRIEFING.COM] Equity indices have continued their descent early this morning, with the S&P 500 showing a loss of 0.8%.

Just released, Pending Home Sales for December rose 1.6% while the Briefing.com consensus expected an increase of 1.3%. Today's reading follows a 2.5% downtick in November.

9:45 am:

[BRIEFING.COM] The S&P 500 opened Monday's session 0.5% lower as nine of its eleven sectors trade in negative territory.

Non-cyclical sectors have outperformed the benchmark index thus far with the utilities (+0.1%) and telecom services (+0.1%) sectors showing modest gains, while health care (-0.2%), consumer staples (-0.2%), and real estate (-0.4%) also outperform.

On the cyclical side, only the consumer discretionary sector (-0.3%) outperforms the broader market. The remaining growth-sensitive sectors--financials, technology, industrials, energy, and materials--all show losses between 0.6% and 0.9%.

U.S. Treasuries opened the trading day flat with the benchmark 10-yr yield unchanged at 2.48%.

9:14 am: [BRIEFING.COM] S&P futures vs fair value: -9.00. Nasdaq futures vs fair value: -19.40.

The stock market is poised for a lower open as investors contemplate the implications of President Trump's executive order, which temporarily suspends the U.S. refugee program. The S&P 500 futures trade nine points (0.4%) below fair value.

On the earnings front, Enterprise Products (EPD 28.85, -0.24) is down 0.8% in pre-market trade after the company reported worse than expected earnings per share this morning.

U.S. Treasuries are currently near their overnight highs, hovering just above their flat lines. The 10-yr yield is down one basis point at 2.47%.

Conversely, crude oil has slipped in recent action, descending from positive territory into the red. The commodity is currently at its overnight low, down 0.4% at $52.95/bbl.

On the data front, December personal income rose 0.3% while the Briefing.com consensus expected an increase of 0.4%. Meanwhile, December personal spending increased 0.5% while the Briefing.com consensus expected a reading of 0.4%. The November Personal Spending reading was left unrevised at 0.2% while November Personal Income was revised to 0.1% from 0.0%.

Separately, Core PCE prices for December rose 0.1% (Briefing.com consensus 0.2%). The November reading was left unrevised at 0.0%.

Today's last economic report, December Pending Home Sales (Briefing.com consensus 1.3%), will cross the wires at 10:00 am ET.

8:52 am: [BRIEFING.COM] S&P futures vs fair value: -8.80. Nasdaq futures vs fair value: -17.90.

The S&P 500 futures trade nine points (0.4%) below fair value.

Equity indices in the Asia-Pacific region began the week on a quiet note amid Lunar New Year closures in China, Hong Kong, South Korea, and Singapore. The few markets that were open saw cautious action amid uncertainty related to a travel ban that temporarily restricted arrivals to the U.S. from seven Middle Eastern countries. In Japan, the country's cabinet maintained a 61.0% approval rating, according to Yomiuri.

In economic data:
Japan's December Retail Sales +0.6% year-over-year (consensus 1.3%; last 1.7%)
New Zealand's December trade deficit narrowed to NZD41 million from NZD746 million (expected deficit of NZD95 million). December Imports NZD4.42 billion (expected NZD4.34 billion; last NZD4.60 billion) and December Exports NZD4.38 billion (consensus NZD4.23 billion; last NZD3.85 billion)

---Equity Markets---

Japan's Nikkei shed 0.5%, but remained just below this year's high. Toshiba lost 3.7% while consumer names like J Front Retailing and Fast Retailing posted respective losses of 1.6% and 2.6%. Industrial names like Komatsu, Fuji Heavy Industries, Hitachi Construction, and Mitsubishi Heavy Industry lost between 1.2% and 1.9%. On the upside, SUMCO, Hino Motors, Alps Electric, and Bridgestone gained between 0.7% and 2.2%.
Hong Kong's Hang Seng was closed.
China's Shanghai Composite was closed.
India's Sensex slipped 0.1% ahead of this week's announcement of a budget for 2017. Tata Motors and Tata Steel posted respective losses of 2.2% and 1.6% while Bharti Airtel surged 7.5% in reaction to strong results.

Major European indices trade in negative territory with Italy's MIB (-2.1%) showing relative weakness. Overall investor sentiment has been weighed down by the weekend announcement of a travel ban, which temporarily restricted arrivals to the U.S. from seven Middle Eastern countries. The underperformance in Italy comes amid a spike in yields and speculation that the country is headed for early elections. Italy's benchmark 10-yr yield has jumped seven basis points to 2.31% while Germany's 10-yr yield is down one basis point at 0.45%.

In economic data:
Eurozone January Business and Consumer Survey 108.2 (expected 107.7; last 107.8)
Spain's Q4 GDP +0.7% quarter-over-quarter, as expected; +3.0% year-over-year, as expected
Swiss January KOF Leading Indicators 101.7 (consensus 103.3; last 102.1)

---Equity Markets---

UK's FTSE is down 0.8% with energy and consumer names under pressure. Tesco, Diageo, InterContinental Hotels, Burberry, Imperial Brands, BP, and Royal Dutch Shell are down between 1.4% and 3.2%. Select financials also lag with Old Mutual, Barclays, and RBS down between 1.7% and 3.3%.
Germany's DAX has given up 0.8% amid broad weakness. Deutsche Bank has surrendered 2.5% while other heavyweights like Volkswagen, BMW, Bayer, Merck, and Daimler show losses between 0.2% and 2.0%.
France's CAC has dropped 0.8% with TechnipFMC leading the retreat. The stock has slumped 2.3%. Financials BNP Paribas and Societe Generale are down 2.0% and 1.5%, respectively, while Credit Agricole is down 0.6%. On the upside, Sanofi leads with a gain of 0.8%.
Italy's MIB has slid 2.1% to levels not seen since late December. UBI Banca, UniCredit, and Intesa Sanpaolo show losses between 2.6% and 6.3%. Fiat Chrysler, Ferrari, and Luxottica are down between 1.0% and 1.9%.

8:33 am: [BRIEFING.COM] S&P futures vs fair value: -10.00. Nasdaq futures vs fair value: -23.40.

The S&P 500 futures trade ten points (0.4%) below fair value.

Just in, December personal income rose 0.3% while the Briefing.com consensus expected an increase of 0.4%. Meanwhile, December personal spending increased 0.5% while the Briefing.com consensus expected a reading of 0.4%. The November Personal Spending reading was left unrevised at 0.2% while November Personal Income was revised to 0.1% from 0.0%.

Separately, Core PCE prices for December rose 0.1% (Briefing.com consensus 0.2%). The November reading was left unrevised at 0.0%.

8:10 am: [BRIEFING.COM] S&P futures vs fair value: -8.30. Nasdaq futures vs fair value: -19.90.

Equity futures are lower this morning as global markets digest the implications of President Trump's executive order issued late Friday, which temporarily suspends the U.S. refugee program. The S&P 500 futures trade eight points (0.3%) below fair value.

U.S. Treasuries are flat, with the 10-yr yield unchanged. Similarly, crude oil is also relatively flat this morning, holding a slim 0.1% gain. The commodity currently trades at $53.24/bbl.

Today's economic data will include December Personal Income (Briefing.com consensus 0.4%) and December Pending Home Sales (Briefing.com consensus 1.3%). The two reports will be released at 8:30 am ET and 10:00 am ET, respectively.

In U.S. corporate news:

Tempur Sealy (TPX 45.99, -17.20): -27.2% after terminating contracts with Mattress Firm, the company's largest customer.
DHT Holdings (DHT 4.75, +0.48): +11.2% following news that the company was approached to be acquired by Frontline (FRO 6.99, -0.03).
Walt Disney (DIS 109.80, +0.50): +0.5% after the company's stock was upgraded to 'Overweight' from 'Equal-Weight' at Morgan Stanley.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region began the week on a quiet note amid Lunar New Year closures in China, Hong Kong, South Korea, and Singapore. Japan's Nikkei -0.5%, India's Sensex -0.1%.
In economic data:
Japan's December Retail Sales +0.6% year-over-year (consensus 1.3%; last 1.7%)
New Zealand's December trade deficit narrowed to NZD41 million from NZD746 million (expected deficit of NZD95 million). December Imports NZD4.42 billion (expected NZD4.34 billion; last NZD4.60 billion) and December Exports NZD4.38 billion (consensus NZD4.23 billion; last NZD3.85 billion)
In news:
In Japan, the country's cabinet maintained a 61.0% approval rating, according to Yomiuri.

Major European indices trade in negative territory with Italy's MIB showing relative weakness. UK's FTSE -0.6%, Germany's DAX -0.7%, France's CAC -0.9%, Italy's MIB -2.0%.
In economic data:
Eurozone January Business and Consumer Survey 108.2 (expected 107.7; last 107.8)
Spain's Q4 GDP +0.7% quarter-over-quarter, as expected; +3.0% year-over-year, as expected
Swiss January KOF Leading Indicators 101.7 (consensus 103.3; last 102.1)
In news:
The underperformance in Italy comes amid a spike in yields and speculation that the country is headed for early elections. Italy's benchmark 10-yr yield has jumped ten basis points to 2.31% while Germany's 10-yr yield is flat at 0.47%.

5:57 am: [BRIEFING.COM] S&P futures vs fair value: -7.30. Nasdaq futures vs fair value: -19.90.

5:57 am: [BRIEFING.COM] Nikkei...19369...-98.60...-0.50%. Hang Seng...Holiday.........

5:57 am: [BRIEFING.COM] FTSE...7124.04...-60.50...-0.80%. DAX...11725.05...-89.20...-0.80%.

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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