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 Post subject: April 28th Wednesday 2010 Emini TF ($TF_F) points +25.00
PostPosted: Thu Apr 29, 2010 4:03 pm 
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Trade Journal By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, although this journal contains advertisements involving my trade methods, it does contain useful trading tips a few times per week. Thus, if you're looking for trading tips that can improve your trading and understand that profitable trading involves more than just entry signals...consistently read this trade journal and the #FuturesTrades chat room logs where I post my trades in real-time from entry to exit (see link below) via my IRC user name wrbtrader that's the same as my user name on twitter.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=73&t=508.

Quote:
Today's results are 8 wins : 3 losses. It's not often I'm able to exploit back to back high volatility trading days mainly because it's rare to have back to back high volatility trading days. Best trades were the 3rd and 5th trades and you should review the commentary in #FuturesTrades to get a peek into my thoughts involving those trades.

Trading Tip: Technical Analysis works but only if you use it with good money management, position size management, discipline, market experience and other critical aspects of a trading plan. Simply, TA doesn't work if that's all you have going for you.


FYI - You can ask me questions here at the forum or you can tweet me on twitter about anything related to today's trading or related to your own trading.

Image@ http://twitter.com/wrbtrader


In addition, posted below are direct links about my trade methodology or trading approach 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 analysis).

http://www.thestrategylab.com/WRBAnalysisTutorials.htm

http://www.thestrategylab.com/TradeStrategies.htm

Also, if you're interested in having free access to one of my profitable trade strategies along with earning extra income with little effort...join my referral program @ http://www.thestrategylab.com/ReferralProgram.htm

My Trading Performance: +25.00 points in the ICE Russell 2000 Emini TF ($TF_F) Futures
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Dow Back Above 11,000
By Alexandra Twin, senior writer
April 28, 2010: 5:50 PM ET

NEW YORK (CNNMoney.com) -- The Dow gained Wednesday after the Federal Reserve said that economic activity is picking up, and that it will hold a key short-term interest rate steady for an extended period of time.

The broader market was mixed as investors considered European debt issues and a batch of quarterly earnings reports.

The Dow Jones industrial average (INDU) gained 53 points, or 0.5%, reclaiming the 11,000 level it lost in the previous day's selloff. The 11,000 level has psychological meaning, but is not a key technical level for traders.

The S&P 500 index (SPX) added 7 points, or 0.7%, closing above 1,185, a key support level. The Nasdaq composite (COMP) was barely changed.

Stocks had surged more aggressively in the first 90 minutes after the roughly 2:15 p.m. ET Fed announcement but gave up bigger gains late in the session.

Stocks had struggled earlier as earnings news competed against euro zone debt worries after Standard & Poor's cut Spain's rating, one day after lowering Portugal's debt rating and cutting Greece's rating to junk. The downgrades pummeled U.S. stocks Tuesday and also dragged on international markets Wednesday.

But the Fed announcement seemed to reassure investors, as it offered both a positive take on the economy and promised no change in interest rates for the foreseeable future.

After the close Wednesday, Hewlett-Packard (HPQ, Fortune 500) said it was buying smartphone maker Palm (PALM) in a $1.2 billion all-cash deal that values Palm at $5.70 per share. The deal puts an end to months of takeover rumors regarding the struggling company, a leader in the handheld device market that has struggled amid the rise of smartphones.
Fed: Economy better, rates to stay low

Fed: The central bank held the fed funds rate steady at historic lows near zero, as expected, and also said that conditions "are likely to warrant exceptionally low levels of the federal funds rate for an extended period."

Once again, Federal Reserve Governor Thomas M. Hoenig dissented, objecting to the "extended period" phrase on worries about inflationary concerns.

The bankers also talked up the economy, saying activity has strengthened, the labor market is starting to improve and household spending has picked up a bit, but not enough to drive inflation.

The report offered no surprises, said Joshua Shapiro, chief U.S. economist at Maria Fiorini Ramirez.

"People were expecting them to be incrementally more positive about the economy, as they have been in the last few statements, to keep the 'extended period' phrase and for Hoenig to dissent again," Shapiro said.

"A few people may have been anticipating a surprise but I think everybody else had their expectations fulfilled," he said.

Greece: The country is facing a May 19 deadline for refinancing about $11.4 billion in debt and investors are worried it could default. Although Greece has gotten the OK to access over $53 billion in loans from the European Union and the International Monetary Fund, the funds have not yet been made available.

But worries were partly allayed Wednesday on reports that the loan package could be increased to as much as $160 billion. Additionally, Germany -- the largest of the 16 euro zone countries -- said its portion of the initial loan package could be approved by the end of next week. Germany's perceived reluctance to ante up has added a layer of uncertainty to the proceedings.

Following the reports, the cost of insuring Greek debt dropped from record highs hit in the morning, and the euro bounced back versus the dollar after falling to a one-year low.

Quarterly results: Another batch of better-than-expected quarterly results helped give stocks some support.

Roughly 82% of earnings have topped estimates. Should that figure hold up, it would be the highest percentage of companies beating expectations in Thomson's history.

Dow Chemical (DOW, Fortune 500) reported higher quarterly sales and earnings that topped estimates, as higher pricing boosted global sales. Shares gained almost 6%.

Defense contractors General Dynamics (GD, Fortune 500) and Northrop Grumman (NOC, Fortune 500) both reported higher quarterly earnings that topped estimates. General Dynamics reported weaker revenue that missed forecasts. Northrop Grumman reported higher revenue that topped estimates and also lifted its 2010 profit outlook. Both company's stocks posted slim gains.

AOL (AOL) reported quarterly earnings and revenues that fell from a year ago and missed expectations, as the company contended with dwindling sales and a weakening subscriber base. Shares fell 14.5%.

With 48% of the S&P 500 having reported results, earnings are on track to have grown 52% from a year earlier and revenues 12%, according to the latest info from tracker Thomson Reuters.

Among other movers, financial shares advanced, with JPMorgan Chase (JPM, Fortune 500), Bank of America (BAC, Fortune 500) and SunTrust Banks (STI, Fortune 500) among the issues boosting the KBW Bank index. A rally in commodities gave a lift to oil, metal and mining shares.
0:00 /5:59Goldman CEO: We share some burden

World markets: In overseas trading, European markets were lower, with France's CAC 40 down 1.5%, Germany's DAX down 1.2% and London's FTSE down 0.3%.

Asian markets fell, with Hong Kong's Hang Seng index down 1.5% and Japan's Nikkei down 2.6%.

The dollar and commodities: The dollar gained versus the euro and the yen.

U.S. light crude oil for June delivery rose 78 cents to settle at $83.22 a barrel on the New York Mercantile Exchange.

COMEX gold for June delivery rose $9.60 to settle at $1,171.80 per ounce.

Bonds: Treasury prices fell, raising the yield on the 10-year note to 3.77% from 3.69% Tuesday. Prices had rallied Tuesday as stocks slumped, with investors seeking safety in government debt. Treasury prices and yields move in opposite directions.

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Yahoo! Finance

4:30 pm : Strength among financials helped the broader market fend off the challenge of another midsession sovereign debt downgrade and a late flurry of selling. The latest FOMC policy statement had no real effect on trade.

Early trade was rather choppy, but the action was generally positive as stocks sported broad-based gains. Buying came largely as a reflex to the outsized losses that dropped stocks in the prior session.

Another big batch of upbeat earnings and a moderately weaker dollar helped support the improved mood. However, the broader market quickly reversed into the red when news was released that analysts at Standard & Poor's downgraded Spain's credit rating to AA from AA+. Though Spain's debt is still investment grade, a knee-jerk selling effort still followed the announcement, which came just one day after Standard & Poor's cut its rating for Portugal and Greece.

Volatility also spiked and sent many participants back to the dollar, which swung from a modest loss to a 0.4% gain. The greenback gradually gave up its gain and with a 0.2% loss, while volatility cooled and the Volatility Index closed down 7.5%.

Financials were a primary source of strength in the broader market's rebound. The sector also offered leadership as sellers redoubled their efforts in the final hour of trade. Financials settled with a 1.3% gain, which was the best of any major sector.

Relative weakness among large-cap tech issues hampered the Nasdaq, however. It lagged for the entire session and closed flat.

The latest policy statement from the Federal Open Market Committee proved to be a nonevent. The FOMC indicated that the fed funds target rate remains unchanged at the range 0.00% to 0.25%, as expected, and that rates will stay exceptionally low for extended period.

With the policy statement out of the way, many participants turn their focus to the weekly jobless claims count tomorrow and then the first quarter GDP reading on Friday.

Advancing Sectors: Financials (+1.3%), Energy (+1.1%), Materials (+1.0%), Utilities (+0.9%), Industrials (+0.8%), Health Care (+0.7%), Consumer Staples (+0.6%), Telecom (+0.5%), Tech (+0.2%)
Declining Sectors: Consumer Discretionary (-0.3%) DJ30 +53.28 NASDAQ -0.26 NQ100 +0.1% R2K +0.2% SP400 +0.2% SP500 +7.65 NASDAQ Adv/Vol/Dec 1412/2.66 bln/1284 NYSE Adv/Vol/Dec 1809/1.44 bln/1222

3:30 pm : News of another sovereign downgrade helped gold prices extend their gains. The yellow metal finished pit trade with a 0.8% gain at $1171.80 per ounce. That marked a 2010 closing high.

Silver prices slipped, however. The metal closed at $18.11 per ounce, down 0.1%.

Energy prices staged strong gains. More specifically, oil prices were pushed 0.9% higher to $83.32 per barrel. Most of that move came in late trade, after prices had slipped back to their 50-day moving average and gyrated after weekly inventory data showed a larger-than-expected build of 1.96 million barrels.

Meanwhile, natural gas prices were able to move 0.8% higher to $4.35 per MMBtu.

Overall strength among commodities helped the CRB Commodity Index advance 0.5%, which made for a modest rebound after it dropped 1.9% during the prior session. DJ30 +70.73 NASDAQ +3.99 SP500 +9.22 NASDAQ Adv/Vol/Dec 1460/2.23 bln/1212 NYSE Adv/Vol/Dec 1899/1.09 bln/1144

3:00 pm : The S&P 500 has been unable to extend its climb above 1195, but it has found support at 1190. That has left the broad market measure to chop along within that range.

Gains remain broad based, but consumer discretionary stocks have been unable to participate. The sector is currently down with a fractional loss as shares of retailers fall out of favor. Amazon.com (AMZN 139.50, -2.52) remains one of the weakest retailers since falling below its 20-day moving average in earlier trade. DJ30 +70.66 NASDAQ +4.54 SP500 +9.83 NASDAQ Adv/Vol/Dec 1498/2.05 bln/1168 NYSE Adv/Vol/Dec 1943/998 mln/1070

2:30 pm : The S&P 500 gyrated around the 1190 line with the release of the latest FOMC policy statement, but stocks have since spiked to fresh session highs.

The latest policy statement from the FOMC was released at 2:15 PM ET. It indicated that the fed funds target rate remains unchanged at the range 0.00% to 0.25%, as expected. Moreover, the FOMC maintained its position that rates will stay exceptionally low for extended period.

Initial reaction to the statement was rather muted, but now stocks are making a broad-based move higher. Financials remain the strongest performers. In fact, the sector is now up 1.7%, which puts it only slightly below the session highs that it set this morning.

Meanwhile, Treasuries have extended their losses, such that the benchmark 10-year Note is now down 20 ticks to a session low. DJ30 +86.38 NASDAQ +7.53 SP500 +11.34 NASDAQ Adv/Vol/Dec 1502/1.85 bln/1160 NYSE Adv/Vol/Dec 1924/895 mln/1081

2:00 pm : The stock market has entered into a rather tight trading range. That has kept the S&P 500 within a point of the 1190 line for the past hour. The calm comes ahead of the latest FOMC policy statement, which is due at 2:15 PM ET.

The consensus is that there will be no change to the Fed's interest rate targets, but many continue to question whether the wording of the FOMC's directive will still contain language regarding exceptionally low levels of interest for an extended period. Given that the downgrade of Greece, Portugal, and now Spain by analysts at Standard & Poor's suggests weakness that has crept into global credit markets, many believe the language will be unchanged. DJ30 +48.59 NASDAQ -0.87 SP500 +6.90 NASDAQ Adv/Vol/Dec 1361/1.70 bln/1296 NYSE Adv/Vol/Dec 1717/826 mln/1249

1:30 pm : Treasuries remain under pressure. The benchmark 10-year Note s down 14 ticks after it climbed nearly one full point in the prior session. Its yield currently stands at 3.74%.

Results from a $42 billion auction of 5-year Notes were just released. They drew a yield of 2.54%, which is a bit higher than the 2.53% that had been expected. The bid-to-cover came in at 2.75, which was stronger than the prior ratio of 2.55. Indirect bidders accounted for 48.9% of the action. That was up from the prior auction's rate of 39.7%. The 5-year Note is currently down 10 ticks so that its yield currently stands at 2.50%. DJ30 +44.59 NASDAQ -2.50 SP500 +6.25 NASDAQ Adv/Vol/Dec 1334/1.60 bln/1294 NYSE Adv/Vol/Dec 1682/788 mln/1280

1:05 pm : News that S&P downgraded Spain's credit rating took stocks sharply lower in late morning trade, but buyers have stepped back in to offer support. In turn, stocks have retraced most of the slide.

Though action was a bit choppy in the early going, stocks started the session with modest gains. Financials were a primary source of support as the sector climbed to a near 2% gain in early trade. The sector has given up part of its gain, but still leads with a 1.3% gain.

Strength among financial issues has helped the broader market recover from the flurry of selling that followed news that analysts at Standard & Poor's downgraded the debt of Spain. The news comes just one day after they downgraded the ratings of both Portugal and Greece.

Similar to yesterday's announcement, the news has sent the dollar higher. The Dollar Index had traded with moderate weakness earlier this session, but it is now up 0.1% as the euro surrendered its gains.

Volatility has cooled, however. The Volatility Index surged more than 30% in the prior session, but it is actually down 2.5% at the moment.

Though the broader market has made its way back to a marked gain, the Nasdaq remains mired in the red with a moderate loss. Its weakness comes as a result of losses among the likes of Apple (AAPL 260.91, -1.13) and Amazon.com (AMZN 139.95, -2.07).

Better-than-expected earnings and upside guidance from Broadcom (BRCM 35.20, +0.38) have helped the semiconductor play offer some support to the Nasdaq, though the stock has drifted downward from its morning high.

Coming up at 2:15 PM ET is the latest statement from the Federal Open Market Committee. Given that changes to policy are still unlikely, participants will key in on the wording of the FOMC's directive. DJ30 +48.82 NASDAQ -3.65 SP500 +6.64 NASDAQ Adv/Vol/Dec 1357/1.52 bln/1261 NYSE Adv/Vol/Dec 1709/750 mln/1250

12:30 pm : Trading remains choppy as investors await the Federal Open Market Committee's interest rate decision. The major indices remain mixed with the Dow and S&P moderately higher, and the Nasdaq showing weakness.

The utilities sector has performed relatively well today showing gains of 0.7%. Duke Energy (DUK 16.63, 0.62) has significant strength after it was reported E.ON sold its U.S. utility unit to PPL (PPL 26.22, -1.51) for $7 billion. Duke Energy is up almost 4%. Another utility responding positively to the news is Integrys Energy Group (TEG 49.81, 0.62), up more than 1.2%. DJ30 +41.11 NASDAQ -2.31 SP500 +6.35 NASDAQ Adv/Vol/Dec 1316/1.4 bln/1273 NYSE Adv/Vol/Dec 1652/686 mln/1277

12:00 pm : Stocks have recouped some of their losses follwing S&P's downgrade of Spain's credit rating, but remain near the flat line. The dollar climbed higher sending the euro to a fresh yearly low below 1.3120. Gold spiked to its high of the session, and is now trading near 1175.

Shares in the homebuilding space continue to outperform the market today with leadership from Pulte Homes (PHM 12.90, 0.27) and KB Homes (KBH 18.20, 0.19). The SPDR S&P Homebuilder ETF (XHB 18.88, 0.20) is higher by 1%. The move comes on the news mortgage applications dropped 2.9% versus last week. DJ30 +18.51 NASDAQ -7.20 SP500 +3.49 NASDAQ Adv/Vol/Dec 1295/1.27 bln/1283 NYSE Adv/Vol/Dec 1550/632 mln/1364

11:30 am : The Nasdaq climbed back into positive territory briefly as the S&P 500 and Dow reached session highs. The markets pulled back as Spain's credit rating was cut by Standard and Poor's. Stocks immediately cut their gains in half and the Nasdaq fell back into negative territory.

Consumer discretionary stocks are lagging the overall market as the sector is down 0.25%. Shares of Amazon (AMZN 140.29, -1.73) are getting hit especially hard down more than 1.2%. Other weakness in the space is found in fast food retailers McDonald's (MCD 70.09, -0.44) and YUM! Brands (YUM 42.40, -0.38).

The Federal Open Market Committee announces their interest rate decision this afternoon around 2:15. DJ30 +23.42 NASDAQ -5.51 SP500 +4.76 NASDAQ Adv/Vol/Dec 1418/1.07 bln/1123 NYSE Adv/Vol/Dec 1775/523 mln/1111

11:00 am : Health care stocks lagged in the early going, but the sector has since climbed to a 0.5% gain. Strength in the sector has become rather broad, but shares of life science tools companies, up 2.4%, currently sport some of the strongest gains. ThermoFisher (TMO 55.06, -1.38) is a leader in the group following its better-than-expected quarterly earnings report.

Meanwhile, a narrow earnings beat by Medco Health Solutions (MHS 61.14, -1.89) has been met with selling pressure. That has sent the stock down to its 200-day moving average for the first time in one year. Its weakness has imbued other health care services stocks. DJ30 +39.22 NASDAQ -3.98 SP500 +5.07 NASDAQ Adv/Vol/Dec 1358/852 mln/1151 NYSE Adv/Vol/Dec 1781/411 mln/1084

10:30 am : The US Dollar Index bounced off session lows in recent trade, moving back near the unchanged line, which caused some commodities to sell off.

On the strength in the dollar index earlier, June crude oil fell back into negative territory, leaving it 0.2% lower at $82.24 ahead of inventory data. Following inventory data, which showed a build of 1.963 million versus the consensus of a build of 1.0 million, crude moved just above the unchanged line, now trading at $82.46.

June natural gas hit morning lows of $4.28 per MMBtu just before pit trading began. After hitting those lows the energy component quickly reversed, rallying into positive territory and to new session highs of $4.38 per MMBtu. Currently, natural gas is 1% higher at $4.26 per MMBtu. Note: June becomes the front month contract for natural gas at the close of pit trade today.

June gold has chopped around in positive territory for most of the session so far. Gold hit morning lows of $1161 per ounce around 8:30ET, but since moved back in positive territory and is trading 0.5% higher at $1168.20 per ounce. May silver, however, moved into the red overnight and has not yet been able to recover its losses. Silver hit lows of $17.82 per ounce around 10:00ET and is just above that level currently at $17.87 per ounce, down 1.4%.
DJ30 +24.71 NASDAQ +0.05 SP500 +4.06 NASDAQ Adv/Vol/Dec 1460/596.8 mln/1003 NYSE Adv/Vol/Dec 1841/298.5 mln/965

10:00 am : The Nasdaq has started to slide off of its opening levels, but it remains slightly positive. Large-cap tech issues look to be the culprit behind the pullback. Their weakness has already taken the Nasdaq 100 down to the neutral line and put the broader tech sector in the red.

Among large-cap tech plays, Apple (AAPL 261.21, -0.83) is one of the weakest. Its breakdown this morning takes it below its prior session low.

Semiconductors remain strong, though. In turn, the Philadelphia Semiconductor Index is up 0.7% as Broadcom (BRCM 36.23, +1.41) climbs 4% following news of its better-than-expected quarterly earnings and upside guidance.

Advancing Sectors: Financials (+1.5%), Energy (+0.7%), Materials (+0.5%), Utilities (+0.4%), Industrials (+0.3%)
Declining Sectors: Telecom (-0.4%), Consumer Discretionary (-0.2%), Tech (-0.1%), Health Care (-0.1%)
Unchanged: Consumer Staples DJ30 +17.91 NASDAQ +2.13 SP500 +4.10 NASDAQ Adv/Vol/Dec 1447/351 mln/919 NYSE Adv/Vol/Dec 1872/199 mln/884

09:45 am : Stocks are up solidly in the first few minutes of trade. Gains are generally broad, but the best move has come from financial plays -- the sector is already up 1.8%.

Goldman Sachs (GS 156.68, +3.64) is a primary leader among financial issues. Its strength has helped drive shares of investment banks and brokerages to a collective gain of 2.3%.

Defensive-oriented plays are rather weak this morning. As such, health care (-0.1%), consumer staples stocks (-0.1%), and telecom (-0.4%) are all in the red. Telecom's overall weakness comes despite strength in shares of Sprint Nextel (S 4.26, +0.17), which reported this morning in-line earnings results. DJ30 +32.57 NASDAQ +9.86 SP500 +6.35 NASDAQ Adv/Vol/Dec 1551/201 mln/739 NYSE Adv/Vol/Dec 2034/128 mln/668

09:15 am : S&P futures vs fair value: +7.80. Nasdaq futures vs fair value: +14.00. Stock futures have traded up toward morning highs so that they point to a solid start for the major indices. Such an open would mark a rebound from the prior session's outsized loss, which was actually the worst single-session percentage slide for the stock market since February.

Corporate earnings remain improved and a dip by the dollar has helped provide a positive backdrop this morning, but participants have kept a watchful eye on the headlines that detail the state of finances and financial aid for Greece as global investors continue to dump the country's debt.

Also on radars is the latest FOMC policy statement. Since a rate hike remains unlikely, many will focus on the actual verbiage of the directive. Leading up to the statement at 2:15 PM ET, the latest weekly crude oil inventory report will be released at 10:30 AM ET and results from a $42 billion auction of 5-year Notes will be unveiled at 1:00 PM ET.

09:00 am : S&P futures vs fair value: +8.20. Nasdaq futures vs fair value: +17.30. Commodity prices are a bit mixed this morning. With the exception of gold, commodity prices had tumbled considerably in the prior session, such that the CRB Commodity Index dropped 1.9% in its worst single-session slide since February.

Gold had garnered support amid the volatile trade yesterday and even extended its gain after pit trade closed, but this morning it is essentially unchanged at $1161.10 per ounce.

Oil prices fell more than 2% in the prior session of pit trade, but they have since staged a modest rebound to sport a 0.5% gain at $82.85 per barrel this morning. Oil's advance precedes the latest batch of weekly oil inventory data, which is due at 10:30 AM ET.

08:30 am : S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +14.50. U.S. stock futures continue to trade with relative strength, while declining issues continue to hold a strong lead over advancers in Britain's FTSE. However, the FTSE has managed to make its way to a 0.3% gain as strength among energy plays BP PLC (BP) and Royal Dutch Shell (RDS.A) provide leadership. Energy giant Total (TOT) has been a primary source of support for France's CAC, which is still down 0.4% amid broad-based weakness. In Germany, the DAX is also down 0.4%. Its declining issues outnumber its advancers by nearly 5-to-1.

In Asia, Japan's Nikkei fell to a 2.6% loss. Of its 225 members, only nine staged a gain. Denso Corp was among the strongest, while Fanuc LTD was among the heaviest drags. Hong Kong's Hang Seng sank 1.5% as shares of financial giants HSBC (HBC) and China Construction Bank sold off. China's Shanghai Composite fell a more modest 0.3%. Insurers were among the weaker players, but energy plays PetroChina (PTR) and China Petroleum (SNP) showed strength.

08:00 am : S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +12.00. The stock market closed the prior session below its 20-day moving average for the first time in more than two months as it fell to its worst percentage loss since February in high volume, high volatility trade. Some support has surfaced this morning, though. In turn, stock futures currently sport a solid gain over fair value.

The improved tone comes in the face of continued weakness overseas, where Hong Kong's Hang Seng shed another 1.5% and Japan's Nikkei fell to a 2.6% loss. In Europe, the primary bourses have recovered from session lows, but Germany's DAX and France's CAC are both still down 0.6%. Britain's FTSE has recovered to trade with a fractional gain.

The euro has also attracted some support, such that it now sports a modest gain over the greenback.

On the earnings front, overall results remain upbeat and consistent with the picture of an improved operating environment.

Weekly oil inventory data is due at 10:30 AM ET. Results from an auction of 5-year Notes will be released at 1:00 PM ET. All eyes turn to the FOMC policy statement at 2:15 PM ET.

06:45 am : S&P futures vs fair value: -0.40. Nasdaq futures vs fair value: +4.50.

06:45 am : Nikkei...10924.79...-287.90...-2.60%. Hang Seng...20949.40...-312.40...-1.50%.

06:45 am : FTSE...5570.04...-33.40...-0.60%. DAX...6066.00...-93.30...-1.50%.

Special thanks to Yahoo! Finance and CNNMoney for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
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