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 Post subject: April 4th Tuesday Trade Results - Profit $1,012.50
PostPosted: Wed Apr 05, 2017 9:09 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Location: Canada
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Trade Results of M.A. Perry
Trader and Founder of WRB Analysis (wide range body/bar analysis)
TheStrategyLab 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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click on the above image to view today's performance verification

Price Action Trade Performance for Today: Emini TF ($TF_F) futures @ $0.00 dollars or +0.00 points, Emini ES ($ES_F) futures @ $1,012.50 dollars or +20.25 points, Light Crude Oil CL ($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 @ $1,012.50 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 for anyone to do a real-time review. 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 review 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=166&t=2520

Image ##TheStrategyLab Chat Room is free. 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 TheStrategyLab 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 TheStrategyLab 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. TheStrategyLab 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 via removing trouble makers so that members can peacefully post their market observations, trades, WRB Analysis commentary about the markets.

TheStrategyLab free chat room is not for traders looking for someone to hold their hands and tell them when to buy or sell. TheStrategyLab is for you to post your real-time analysis or trades so that you can review as feedback for any trading day to provide valuable information about the results in your broker statements. Access instructions for chat room @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=164

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 for you to review 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 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=317&t=3373 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 for easy review 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

4:15 pm: [BRIEFING.COM] Uncertainty put a force field around the stock market on Tuesday, deterring the bulls and the bears from exerting much influence on the major averages. The Dow (+0.2%) and the Nasdaq (+0.2%) settled roughly in line with the S&P 500 (+0.1%), which held to a ten-point range throughout the day's "action".

Tuesday's uneasiness was based in a number of factors, including the upcoming meeting between President Trump and Chinese President Xi Jinping, Fed officials shifting the focus from rate hikes to the central bank's balance sheet, the resurgence of health care reform (and what it will mean for tax reform), discrepancy between 'hard' and 'soft' economic data, the French presidential election, and heightened tensions with North Korea, among others.

With those unanswered questions looming in the background, sector movement was subdued; nine of eleven settled within 0.3% of their respective flat lines.

The energy sector (+0.7%) ventured a little ways from its unchanged mark, lured into green territory by crude oil's positive performance. The energy component increased 1.5% to finish pit trade at $50.99/bbl, which marks the commodity's highest level in nearly a month.

Like energy, the industrials (+0.2%), consumer staples (+0.3%), and technology (+0.2%) sectors finished ahead of the broader market. Caterpillar (CAT 94.13, +1.86) was the industrial group's top performer, climbing 2.0%, after the company's stock was added to the 'Conviction Buy List' at Goldman. As for technology, Apple (AAPL 144.77, +1.07) and Microsoft (MSFT 65.73, +0.18) propped up largest sector by weight with respective gains of 0.7% and 0.3%.

On the downside, the financials (-0.2%) and consumer discretionary (-0.1%) spaces settled below their flat lines with the latter suffering amid weakness in retailers after it was reported that the White House is considering a value-added tax. The SPDR S&P Retail ETF (XRT 41.22, -0.38) closed lower by 0.9%.

In the Treasury market, U.S. sovereign debt finished Tuesday with a modest loss. The benchmark 10-yr yield closed three basis points higher at 2.35%.

On the data front, investors received February Trade Balance and February Factory Orders:

The February trade balance showed a deficit of $43.6 billion while the Briefing.com consensus expected the deficit to hit $44.7 billion. The previous month's deficit was revised to $48.2 billion from $48.5 billion.
The narrowing deficit should help some with first quarter GDP forecasts, yet the key takeaway from this report is that imports were down as much as they were in February, which speaks to some softening demand from U.S. consumers.
The Factory Orders Report for February showed an increase of 1.0% while the Briefing.com consensus expected an increase of 0.9%. The January reading was revised to 1.5% (from 1.2%).
The key takeaway from the report is that overall business spending was soft in February, evidenced by the 0.1% decline in nondefense capital goods orders excluding aircraft (the proxy for business spending).

Tomorrow, investors will see a slew of economic reports, including the weekly MBA Mortgage Index at 7:00 ET, March ADP Employment Change (Briefing.com consensus 175,000) at 8:15 ET, March ISM Services (Briefing.com consensus 57.0) at 10:00 ET, and the FOMC Minutes from the March 14-15 meeting at 14:00 ET.

Nasdaq Composite +9.6% YTD
S&P 500 +5.4% YTD
Dow Jones Industrial Average +4.7% YTD
Russell 2000 +0.7% YTD

3:40 pm: [BRIEFING.COM]

Energy futures got a nice boost today, led by natural gas futures
Both oil and nat gas finished floor trading near today's highs
May natural gas closed out +5.4% at $3.30/MMBtu, while May WTI crude oil closed +1.5% at $50.99/barrel
Corn pulled back some today...
May contract slipped 1.1% to $3.63/bushel
May wheat was left unchanged at $4.28/bu and May beans were -0.1% at $9.39/bu
Metals showed some modest gains...
June gold closed +0.3% at $1258.40/oz, while May silver ended +0.6% at $18.33/oz
May copper +0.4% at $2.61/lb

3:00 pm:

[BRIEFING.COM] The Dow (+0.1%) is on track to eke out a small victory while the S&P 500 and the Nasdaq trade flat moving into the final stretch.

In the commodities market, crude oil wrapped up its trading day solidly higher, increasing 1.5% to $50.99/bbl. The positive showing precedes today's API inventory report, which will be released after today's close at 16:30 ET. Meanwhile, the energy sector (+0.6%) trades comfortably ahead of the broader market with one hour of action remaining.

Tomorrow, on the earnings front, Walgreens Boot Alliance (WBA 82.71, -0.26) and Monsanto (MON 114.41, +0.48) are scheduled to report their quarterly results before the opening bell while Bed Bath & Beyond (BBBY 48.70, +0.17) will follow suit after Wednesday's close.

2:30 pm:

[BRIEFING.COM] The S&P 500 has drifted higher in recent action and now trades 0.1% above its flat line.

Airlines trade lower across the board after Delta Air Lines (DAL 45.14, -1.18) lowered its passenger revenue per available seat mile (PRASM) forecast for the second time in less than a month. DAL shares have decreased 2.5% while peers like American Airlines (AAL 41.21, -1.24), United Continental (UAL 69.93, -1.42), and Alaska Air (ALK 90.46, -1.91) show losses between 2.0% and 2.9%.

The industrial sector (+0.2%) has been able to overcome the airlines' poor performance, but the Dow Jones Transportation Average (-0.1%) hasn't been so lucky. Outside of airline names, nearly all of the DJTA's components trade in the green with Norfolk Southern (NSC 114.95, +1.45) leading the charge. However, it just hasn't been enough to mitigate the airlines' tumble.

1:55 pm:

[BRIEFING.COM] The Dow (+0.1%) holds a slim gain while the Nasdaq (-0.1%) and the S&P 500 (-0.1%) hover just a tick below their flat lines.

It's been more of the same this afternoon as most sectors refuse to separate from their unchanged marks. The utilities (+0.5%) and energy (+0.3%) spaces currently sport the largest gains while the financials (-0.3%) and consumer discretionary (-0.2%) groups hold the most substantial losses. In total, seven sectors trade in the green and four trade in the red.

Also of note, Richmond Fed President Jeffrey Lacker abruptly announced his resignation earlier this afternoon, revealing that he leaked sensitive information to an analyst back in 2012. Mr. Lacker was not an FOMC voter until 2018.

1:30 pm:

[BRIEFING.COM] The major U.S. indices have seen some modest buying activity since our last update, and are currently trade mixed in afternoon trading.

A look inside the Dow Jones Industrial Average shows that Caterpillar (CAT 94.18, +1.91), Boeing (BA 178.19, +1.54), & United Technologies (UTX 112.71, +0.78) are outperforming. Caterpillar is leading the Dow higher after being added to Goldman's Conviction Buy List, while Boeing is advancing after announcing an agreement with Iran's Aseman Airlines for up to 60 737 MAXs. United Technologies was this morning added to BofA/Merrill's US 1 List.

Conversely, Nike (NKE 55.00, -0.56) is the worst-performing Dow component after being downgraded to Hold at Argus.

With today's small gains, the DJIA has eased back into the black to start the quarter.

1:00 pm:

[BRIEFING.COM] Tuesday's action has been range-bound thus far as investors lack conviction to move the stock market one way or the other. The major averages hover near their flat lines at midday with the S&P 500 showing a slim loss of 0.1%.

The cash market opened today's session slightly lower as the health care debate has once again taken priority over tax reform in Washington. This has created some frustration on Wall Street as investors continue to wait powerlessly on the sidelines.

However, the cautious tone was watered down a bit as the morning wore on, thanks in part to crude oil's resilient performance. The energy component currently trades 1.7% higher at $51.10/bbl, giving the energy sector (+0.4%) the strength to trade with the utilities space (+0.3%) atop today's leaderboard. The technology, industrials, and materials sectors also outperform the broader market, hovering just above their flat lines.

On the flip side, the financials (-0.3%) and consumer discretionary (-0.2%) sectors have struggled, with the latter suffering from underperformance among retailers; the SPDR S&P Retail ETF (XRT 41.15, -0.44) trades lower by 1.1%. However, Amazon (AMZN 905.77, +14.07) has capped the consumer discretionary group's loss, climbing above the $900.00 mark for the first time ever. The company has added 1.6% in today's session, and is now up 6.9% since bouncing off its 50-day moving average on March 27.

In the Treasury market, U.S. sovereign debt trades modestly lower with the benchmark 10-yr yield three basis points higher at 2.35%.

On the data front, investors received February Trade Balance and February Factory Orders:

The February trade balance showed a deficit of $43.6 billion while the Briefing.com consensus expected the deficit to hit $44.7 billion. The previous month's deficit was revised to $48.2 billion from $48.5 billion.
The narrowing deficit should help some with first quarter GDP forecasts, yet the key takeaway from this report is that imports were down as much as they were in February, which speaks to some softening demand from U.S. consumers.
The Factory Orders Report for February showed an increase of 1.0% while the Briefing.com consensus expected an increase of 0.9%. The January reading was revised to 1.5% (from 1.2%).
The key takeaway from the report is that overall business spending was soft in February, evidenced by the 0.1% decline in nondefense capital goods orders excluding aircraft (the proxy for business spending).

12:30 pm:

[BRIEFING.COM] The major averages continue to hover near their flat lines early this afternoon.

Retailers have struggled again in today's session, putting the SPDR S&P Retail ETF (XRT 41.37, -0.23) on track for its third consecutive loss. Apparel names like Coach (COH 39.34, -1.28), Michael Kors (KORS 36.78, -1.26), and Kate Spade (KATE 19.31, -3.51) show notable weakness following reports that Kate Spade is still mulling a potential sale of the company. Michael Kors and Coach have been named as possible buyers with Coach actually placing an offer last week.

Elsewhere in the consumer discretionary sector (-0.1%), Amazon (AMZN 902.84, +11.33) has put together yet another impressive performance again today, climbing above the psychologically important $900.00 mark for the first time ever. The internet retail giant has added 6.6% since bouncing off its 50-day moving average on March 27.

12:00 pm:

[BRIEFING.COM] Nearly all sectors trade in the green late this morning, but gains have been very modest. As a result, the S&P 500 continues to hover at its unchanged mark.

The technology sector (+0.1%) has leaned on large-cap names like Apple (AAPL 144.38, +0.69) and Microsoft (MSFT 86.03, -0.45) as the space fights to stay above water amid broad weakness within the sector. In particular, chipmakers have struggled in today's session after NVIDIA (NVDA 101.92, -6.54) shares were downgraded to 'Underweight' from 'Sector Weight' at Pacific Crest this morning. NVDA trades lower by 6.0% while the PHLX Semiconductor Index shows a loss of 0.6%.

Elsewhere, U.S. Treasuries have slipped a bit in recent action amid the cash market's slight uptick. The benchmark 10-yr yield now trades three basis points higher at 2.36%.

11:25 am:

[BRIEFING.COM] The major averages have ticked up in recent action with the Dow (+0.2%) setting the pace.

Caterpillar (CAT 94.40, +2.13) is the Dow's top-performer after the company's stock was added to the 'Conviction Buy List' at Goldman earlier this morning. Elsewhere in the industrial sector (+0.1%), Boeing (BA 178.13, +1.48) has put together a solid performance in today's session after confirming a $3 billion deal with Iran's Aseman Airlines. CAT and BA shares trade higher by 2.3% and 0.9%, respectively, which has helped give the industrial group a slight edge on its peers.

Meanwhile, the energy sector (+0.2%) has climbed into positive territory in recent action as crude oil extends its earlier gain. WTI crude currently trades at its best level of the day, up 1.3% at $50.88/bbl.

11:00 am:

[BRIEFING.COM] Equity futures trade mixed this morning. The S&P 500 holds a loss of 0.2% while the Dow trades just a tick above its unchanged mark.

The energy sector (-0.4%) hovers near the bottom of the day's leaderboard this morning. While this hasn't been unusual in 2017 (the sector holds a year-to-date loss of 7.8%), it is peculiar given the fact that crude oil is performing relatively well; WTI crude trades 0.8% higher at $50.65/bbl. The commodity typically moves in tandem with the energy sector, but persistently high U.S. crude inventories and a proposed extension of the OPEC/non-OPEC production cut has thrown things off for the time being.

Most of the remaining sectors trade in negative territory, but the losses have been modest. Meanwhile, the lightly-weighted real estate group (+0.2%) shows relative strength as more than half of the sector's components trade in the green. The space's top component by market cap, Simon Properties (SPG 174.84, +0.64), trades higher by 0.4%.

10:40 am: [BRIEFING.COM]

Commodities, as measured by the Bloomberg Commodity Index, are currently +0.5% at 85.1630
Meanwhile, the dollar index is currently +0.1% at 100.61
Looking at energy...
May WTI crude oil futures are now +0.7% at $50.61/barrel
In other energy, May natural gas is +3.8% at $3.25/MMBtu
In metals...
June gold is currently +0.4% at $1259.00/oz, while May silver is +0.7% at $18.33/oz
May copper is now +0.1% at $2.61/lb

10:00 am:

[BRIEFING.COM] The major averages trade just a tick below their flat lines in early action.

Just in, the Factory Orders Report for February showed an increase of 1.0% while the Briefing.com consensus expected an increase of 0.9%. The January reading was revised to 1.5% (from 1.2%).

9:40 am:

[BRIEFING.COM] The S&P 500 opens Tuesday's session with a modest loss of 0.2%.

Most sectors trade in negative territory, but movement has been modest with ten of eleven sectors trading within 0.2% of their respective flat lines. The financial space (-0.5%) underperforms while the consumer staples (+0.1%) and utilities (+0.1%) groups show relative strength.

In the Treasury market, U.S. sovereign debt holds a modest loss. The benchmark 10-yr yield is two basis points higher at 2.34%.

9:17 am: [BRIEFING.COM] S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -18.60.

Yesterday's cautious tone on Wall Street has carried over into Tuesday morning as investors digest the latest headlines from Washington. The S&P 500 futures trade six points (0.3%) below fair value.

Despite President Trump's promise to shift his administration's focus to tax reform, health care negotiations have continued between the White House and House Republicans. That's a point of consternation for a few reasons: (1) it raises concerns about a delay in the tax reform process and (2) it drudges up a belief that the policy agenda is like a ship without a rudder at the moment, drifting with the wind but ultimately not having a definitive direction.

On the corporate front, Caterpillar (CAT 93.89, +1.62) is up 1.8% in pre-market trade after the company's stock was added to the 'Conviction Buy List' at Goldman. Conversely, Bank of America (BAC 23.23, -0.36) has given up 1.5% after BAC shares were downgraded to 'Neutral' from 'Buy' at Citigroup. Acuity Brands (AYI 179.45, -24.61) is also down, plunging 12.1%, after missing both top and bottom line estimates in its latest earnings report.

U.S. Treasuries trade modestly lower this morning with the benchmark 10-yr yield one basis point higher at 2.33%. Conversely, crude oil is up 0.6% at $50.52/bbl as investors eye the latest inventory report from the American Petroleum Institute. The API reading will be released at 16:30 ET.

On the data front, the trade deficit narrowed to $43.6 billion in February (Briefing.com consensus -$44.7 billion) while the January deficit was revised to $48.2 billion from $48.5 billion. Investors will also receive February Factory Orders (Briefing.com consensus 0.9%) later this morning at 10:00 ET.

8:50 am: [BRIEFING.COM] S&P futures vs fair value: -8.30. Nasdaq futures vs fair value: -23.80.

The S&P 500 futures trade eight points, or 0.4%, below fair value.

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note. The overall trading volume was well below average considering markets in China, Hong Kong, and India were closed for holidays. The Reserve Bank of Australia released its latest policy statement, but did not call for changes to its current stance. The statement was perceived as dovish, sending the Australian dollar down 0.7% against the dollar to 0.7555. South Korea's acting president Hwang Kyo-ahn has been quoted as saying, "there is a high chance of North Korea provocation" as tensions on the peninsula remain elevated.

In economic data:
Japan's Monetary Base +20.3% year-over-year (consensus 23.2%; last 21.4%) and BoJ Core CPI +0.1% year-over-year (consensus 0.2%; last 0.2%)
South Korea's March CPI 0.0% month-over-month (expected -0.2%; last 0.3%); +2.2% year-over-year (consensus 2.0%; previous 1.9%)
Australia's February trade surplus expanded to AUD3.57 billion from AUD1.50 billion (expected surplus of AUD1.80 billion)
New Zealand's NZIER Q1 Business Confidence 17% (last 28%)

---Equity Markets---

Japan's Nikkei slid 0.9% to levels not seen since the start of February. Toshiba plunged 9.8% amid reports the company's earnings release would be delayed for the third time. NTT Data, Mazda Motor, NGK Insulators, J Front Retailing, Nitto Denko, Honda Motor, Yamaha Motor, and Okuma lost between 2.4% and 3.4%. On the upside, Central Japan Railway, Japan Tobacco, East Japan Railway, and Chubu Electric Power climbed between 0.5% and 1.8%.
Hong Kong's Hang Seng was closed for Ching Ming Festival.
China's Shanghai Composite was closed for Tomb Sweeping Day.
India's Sensex was closed for Ram Navmi.

Major European indices trade near their flat lines with the UK's FTSE (+0.4%) showing relative strength. Participants have taken note of Spain's Unemployment change (-48,600; expected -41,200; last -9,400), which showed the largest March decline on record. Elsewhere, Eurogroup Chief Jeroen Dijsselbloem continues resisting calls for his resignation after making comments that were deemed offensive to representatives from Southern EU states. Greek officials are meeting with EU representatives in Brussels today, hoping to come closer on an agreement to disburse the next tranche of bailout funds.

In economic data:
Eurozone February Retail Sales +0.7% month-over-month (expected 0.5%; last 0.1%); +1.8% year-over-year (consensus 1.4%; last 1.5%)
UK's March Construction PMI 52.2 (expected 52.4; last 52.5)
Italy's Q4 Public Deficit 2.3% (last 2.3%)
Spain's Unemployment Change -48,600 (expected -41,200; last -9,400)

---Equity Markets---

Germany's DAX is lower by 0.1%. Heavyweights like Deutsche Bank, Commerzbank, Daimler, BMW, and Volkswagen underperform with losses between 1.6% and 3.3%. On the upside, Lufthansa has jumped 1.4% and Adidas is higher by 1.2%.
France's CAC is down 0.1% as more than half of its components trade in the red. Consumer names like Vivendi, Louis Vuitton, Kering, Accor, L'Oreal, and Pernod Ricard show gains between 0.1% and 1.4%. On the downside, financials Societe Generale, BNP Paribas, and Credit Agricole have given up between 1.1% and 2.2%.
UK's FTSE trades up 0.4% with miners and energy names among the leaders. Fresnillo, Randgold Resources, BHP Billiton, Rio Tinto, Glencore, BP, and Royal Dutch Shell have added between 0.9% and 2.8%. Financials have struggled to keep pace. Barclays, RBS, and Old Mutual are down between 0.7% and 1.8%.

8:31 am: [BRIEFING.COM] S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -21.10.

The S&P 500 futures trade eight points, or 0.3%, below fair value.

Just in, the February trade balance showed a deficit of $43.6 billion while the Briefing.com consensus expected the deficit to hit $44.7 billion. The previous month's deficit was revised to $48.2 billion from $48.5 billion.

7:59 am: [BRIEFING.COM] S&P futures vs fair value: -8.50. Nasdaq futures vs fair value: -21.90.

Equity futures point to a lower open for Tuesday's session as yesterday's bearish sentiment lingers. The S&P 500 futures trade nine points, or 0.4%, below fair value.

Crude oil trades modestly higher in early action despite a rebound in Libyan production. The energy component is currently up 0.5% at $50.49/bbl with the latest inventory report from the American Petroleum Institute on tap. The API reading will be released at 16:30 ET.

U.S. Treasuries trade mixed this morning with the 10-yr yield (2.31%) one basis point lower and the 2-yr yield (1.24%) one basis point higher. Also of note, Fed Governor Daniel Tarullo is scheduled to speak this evening at 16:30 ET.

On the data front, investors will receive February Trade Balance (Briefing.com consensus -$44.7 billion) and February Factory Orders (Briefing.com consensus 0.9%). The reports will cross the wires at 8:30 ET and 10:00 ET, respectively.

In U.S. corporate news:

Caterpillar (CAT 93.45, +1.18): +1.3% after the company's stock was added to the 'Conviction Buy List' at Goldman.
Bank of America (BAC 23.23, -0.36): -1.5% after BAC shares were downgraded to 'Neutral' from 'Buy' at Citigroup.
NVIDIA (NVDA 105.20, -3.18): -2.9% after the company's stock was downgraded to 'Underweight' from 'Sector Weight' at Pacific Crest.

Reviewing overnight developments:

Equity indices in the Asia-Pacific region ended Tuesday on a mixed note, but the overall trading volume was well below average considering markets in China, Hong Kong, and India were closed for holidays. Japan's Nikkei -0.9%.
In economic data:
Japan's Monetary Base +20.3% year-over-year (consensus 23.2%; last 21.4%) and BoJ Core CPI +0.1% year-over-year (consensus 0.2%; last 0.2%)
South Korea's March CPI 0.0% month-over-month (expected -0.2%; last 0.3%); +2.2% year-over-year (consensus 2.0%; previous 1.9%)
Australia's February trade surplus expanded to AUD3.57 billion from AUD1.50 billion (expected surplus of AUD1.80 billion)
New Zealand's NZIER Q1 Business Confidence 17% (last 28%)
In news:
The Reserve Bank of Australia released its latest policy statement, but did not call for changes to its current stance. The statement was perceived as dovish, sending the Australian dollar down 0.6% against the dollar to 0.7559.
South Korea's acting president Hwang Kyo-ahn has been quoted as saying, "there is a high chance of North Korea provocation" as tensions on the peninsula remain elevated.

Major European indices trade near their flat lines with the UK's FTSE showing relative strength. Germany's DAX -0.1%, France's CAC +0.1%, UK's FTSE +0.4%.
In economic data:
Eurozone February Retail Sales +0.7% month-over-month (expected 0.5%; last 0.1%); +1.8% year-over-year (consensus 1.4%; last 1.5%)
UK's March Construction PMI 52.2 (expected 52.4; last 52.5)
Italy's Q4 Public Deficit 2.3% (last 2.3%)
Spain's Unemployment Change -48,600 (expected -41,200; last -9,400)
In news:
Participants have taken note of Spain's Unemployment change (-48,600; expected -41,200; last -9,400), which showed the largest March decline on record.
Eurogroup Chief Jeroen Dijsselbloem continues resisting calls for his resignation after making comments that were deemed offensive to representatives from Southern EU states.
Greek officials are meeting with EU representatives in Brussels today, hoping to come closer on an agreement to disburse the next tranche of bailout funds.

6:02 am: [BRIEFING.COM] S&P futures vs fair value: -6.00. Nasdaq futures vs fair value: -14.00.

6:02 am: [BRIEFING.COM] Nikkei...18,810.25...-173.00...-0.90%. Hang Seng...Holiday.........

6:02 am: [BRIEFING.COM] FTSE...7,301.45...+18.80...+0.30%. DAX...12,232.16...-25.00...-0.20%.

Special thanks to Bloomberg, Briefing, Reuters and Yahoo! Finance for their market summaries. Also, thank you for the review of TheStrategyLab performance record...hopefully the links will be useful for you. gm

Best Regards,
M.A. Perry
TheStrategyLab Price Action Trading
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
TheStrategyLab Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
wrbanalysis@gmail.com


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