TheStrategyLab.com Price Action Trading Support Forum

Forum for price action traders that want to learn WRB Analysis basic tutorial chapters 1, 2 and 3 prior to purchasing our advance trade methods. Hashtags: #wrbanalysis #wrbzone #wrbhiddengap #priceaction #trading
It is currently Thu Mar 28, 2024 2:51 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: May 3rd Monday 2010 Emini TF ($TF_F) points +13.40
PostPosted: Tue May 04, 2010 10:33 pm 
Offline
Site Admin

Joined: Sat Jan 10, 2009 2:06 pm
Posts: 4335
Location: Canada
Image

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=74&t=511.

Quote:
Today's results are 8 wins : 8 losses. I've noticed the increased in losses but dollar amount per loss has decreased dramatically. Just as important, I've been able to catch a few runners beyond the initial profit target. In addition, I rarely let a losing trade reach it's initial stop/loss protection because I'm getting better at determining a bad trade a lot faster after entry.

Trading Tip: If the trend is obvious and volatility pushing the trend...go Long the resistance or Short the support.


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: +13.40 points in the ICE Russell 2000 Emini TF ($TF_F) Futures
Attachment:
050310_wrbtrader_PnL_Blotter_Profit.png
050310_wrbtrader_PnL_Blotter_Profit.png [ 32.16 KiB | Viewed 1630 times ]

------------------------------



Stocks Start May Strong
By Alexandra Twin, senior writer
May 3, 2010: 5:54 PM ET

NEW YORK (CNNMoney.com) -- Stocks rallied Monday, bouncing back after a big selloff last week as investors welcomed news that European leaders agreed to provide Greece with $146 billion in aid over the next three years.

A number of better-than-expected economic reports and some positive monthly sales numbers from the nation's automakers added to the gains.

The Dow Jones industrial average (INDU) rallied 143 points, or 1.3%. The S&P 500 index (SPX) gained 15 points or 1.3%, surpassing 1,200, a key psychological level. The Nasdaq composite (COMP) rose 37 points or 1.5%.

Investors welcomed reports that Greece will receive a substantial bailout from the European Union (EU) and the International Monetary Fund (IMF), as it set to rest worries that the country's ballooning deficit would drag on the euro and exacerbate problems for other debt-plagued nations. Portugal, Italy, Ireland, Greece and Spain - the so-called PIIGS, have all struggled to pay back debt.

"We're seeing a reflex rally after last week's selling," said Jamie Cox, managing partner at Harris Financial Group.

"The bailout happened and it's reassured us," he said. "You put Greece into the background, that means there is a template for all other EU bailouts."

The Greek bailout, along with better-than-expected reports on manufacturing and construction spending in the U.S., overshadowed reports that China is boosting its bank reserves to counteract inflationary pressure. Concerns about China limiting its lending dragged on markets earlier this year.

Investors may have also taken some comfort from comments from influential investor Warren Buffett over the weekend. Buffett said he doesn't think Goldman Sachs did anything wrong in the sale of subprime-related securities at the center of an SEC fraud charge and potential criminal probe from the Justice Department. Buffett's Berkshire Hathaway has a big investment in Goldman Sachs' preferred stock.

Stocks tumbled Friday, posting a weekly decline for the first time in nine weeks, after reports that Goldman Sachs is facing a criminal probe sparked analyst downgrades and a selloff in the financial sector.

Monday, Goldman Shares (GS, Fortune 500) gained 5%, rising along with a variety of financial shares. The KBW Bank (BKX) sector index added 1.7%.

However, gains were broad-based, with 29 of 30 Dow stocks advancing, led by Boeing (BA, Fortune 500), United Technologies (UTX, Fortune 500), Chevron (CVX, Fortune 500), Hewlett-Packard (HPQ, Fortune 500), IBM (IBM, Fortune 500), 3M (MMM, Fortune 500) and Caterpillar (CAT, Fortune 500).

Auto sales: Auto and truck sales were being released throughout the session. Ford Motor (F, Fortune 500) posted a 25% year-over-year sales gain in April, the fifth straight month of 20% or more improvement. General Motors (GM) said sales rose 6% from a year ago and fell 2% from last month.

Toyota Motor (TM) said sales for April rose 24% versus a year ago, while Honda Motor (HMC) said sales rose 13% versus the previous year.

Greece: Worries that Greece would default on its debt have dragged on the stock market for weeks, particularly with a May 19 deadline looming for the country to pay back over $11 billion.

But over the weekend, the EU and the IMF agreed to provide $146 billion in aid over three years, with up to $40 billion available in the first year. The loans were granted after Greece announced it was taking on new "austerity" measures to cut expenses and bring down its budget. On Monday, influential Germany voted to provide $40 billion over three years, saying that letting the country go bankrupt would destabilize the euro.
0:00 /0:28Buffett: No fraud at Goldman Sachs

Airlines: UAL (UAUA, Fortune 500)'s United Airlines said it will buy Continental (CAL, Fortune 500) in a $3.2 billion stock deal that will create the world's largest airline, overtaking current leader Delta Air Lines (DAL, Fortune 500).

The combined company will use United's name and Continental's logo and is expected to have annual revenues of $29 billion.

Apple: Apple (AAPL, Fortune 500) said it sold 1 million iPads in one month, with sales outpacing the first month for the iPhone by roughly two to one.
Goldman has a big legal problem

Economy: The Institute for Supply Management's April manufacturing index rose to 60.4 from 59.6 in March. Forecasts had called for a rise to 60, according to a consensus of economists surveyed by Briefing.com.

March construction spending rose 0.2%, the government reported. Spending fell 2.1% in April and was expected to fall 0.3%.

Personal income for March rose 0.3% after rising 0.1% in February, according to a Commerce Department report released before the start of trading. Economists thought income would rise 0.3%.

Personal spending rose 0.6% in March, in line with forecasts, after rising 0.5% in the previous month.

World markets: In overseas trading, European markets rose, with France's CAC 40 up 0.3% and Germany's DAX up 0.5%. London's FTSE was closed.

Asian markets were mixed, with Hong Kong's Hang Seng index down 1.4% and Japan's Nikkei up 1.2%.

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

U.S. light crude oil for June delivery rose 4 cents to settle at $86.19 a barrel on the New York Mercantile Exchange.

COMEX gold for June delivery rose $2 to $1,182.70 per ounce.

Bonds: Treasury prices slipped, raising the yield on the 10-year note to 3.70% from 3.66% Friday. Treasury prices and yields move in opposite directions.

Market breadth was positive. On the New York Stock Exchange, winners topped losers by over three to one on volume of 1.18 billion shares. On the Nasdaq, advancers topped decliners by over two to one on volume of 2.34 billion shares.

Image

Yahoo! Finance

4:30 pm : Unable to push past 1205, the S&P 500 settled just a few points shy of its session high with broad-based gains.

Stocks were dropped for a 1.7% loss this past Friday, but buyers showed a willingness to step right back into the action. Their efforts took more than six out of every seven stocks in the S&P 500 higher. Such broad-based buying dragged volatility down, such that the Volatility Index fell nearly 9%.

Materials stocks made up the only major sector that failed to stage a gain. Instead, they finished flat as diversified metals and mining plays fell to a 2.3% loss.

Some might be quick to point to the dollar's 0.6% advance as a cause for the relative weakness of the materials sector, but the greenback's gain did nothing to derail the broader market from staging a strong advance. For virtually the entire session both the dollar and the stock market with strong gains and both finished near their session highs.

Most of the buck's upturn came against the yen and the euro. The euro's slide followed news that the European Union and International Monetary Fund agreed to provide Greece with 110 billion euros in financial aid. Though that sum exceeds the 45 billion euros that had originally been proposed, some still wonder whether it would be enough to truly stem systemic risk in the region, especially as the fiscal health of Portugal, Italy, Ireland, and Spain remain rather dubious. What's more, Germany remains hesitant to commit to the recently proposed rescue plan.

Some of the strongest gains this session were had by small-cap stocks. Collectively, they climbed 2.3%, led by a surge in Jackson Hewitt (JTX 2.12, +0.44), which announced a change to its credit agreement.

In other corporate news, Continental (CAL 22.86, +0.51) and United (UAUA 22.11, +0.51) agreed to a definitive merger that will give 1.05 shares of UAUA common stock for each CAL share. The announcement stoked takeover chatter, which helped lift the Amex Airline Index 2.2%.

Meanwhile, auto makers were out with their latest monthly sales numbers. Toyota Motor (TM 77.69, +0.60) said that its U.S. sales for April increased 24% year-over-year, while Honda Motor (HMC 33.68, -0.11) posted for April an annual increase of almost 13% in U.S. sales. Ford Motor (F 13.30, +0.28) reported that its sales for April were up 25% from the year before.

Economic data was generally without surprise, but that was mostly because economists had already seen official first quarter GDP data. Personal income and personal spending for March increased 0.3% and 0.6%, respectively -- both were in-line with expectations. However, core personal consumption expenditures were expected to be flat, but they eked out a 0.1% increase.

Construction spending for March made a surprise increase of 0.2%. It had been expected to fall by 0.5%.

The ISM Manufacturing Index for April came in at 60.4, which was essentially on par with the 60.0 that had been widely expected.

Advancing Sectors: Consumer Discretionary (+2.1%), Industrials (+2.1%), Financials (+1.8%), Tech (+1.4%), Utilities (+1.3%), Telecom (+1.1%), Energy (+1.0%), Health Care (+0.6%), Consumer Staples (+0.6%)
Declining Sectors: (None)
Unchanged: Materials DJ30 +143.22 NASDAQ +37.55 NQ100 +1.6% R2K +2.3%% SP400 +1.6% SP500 +15.57 NASDAQ Adv/Vol/Dec 1978/2.33 bln/747 NYSE Adv/Vol/Dec 2360/1.18 bln/696

3:30 pm : Commodities had sported broad strength for most of the session, but some varied selling late in the session made for a rather mixed finish that left the CRB Commodity Index to settle just 0.1% higher.

Crude oil prices had been up more than 1% at their session high, but traders turned their backs on the energy component in late afternoon action. Oil prices closed pit trade only fractionally higher at $86.19 per barrel.

Natural gas was able to remain strong, however. Contracts closed with the commodity priced 2.3% higher at $4.00 per MMBtu.

Gold gave up some of its gains this session. The yellow metal was up as high as $1188.40 per ounce, but it closed at $1183.30 per ounce with a tepid 0.2% gain.

Silver was better able to hold on to its gain; it settled a sharp 1.1% higher at $18.84 per ounce. DJ30 +143.39 NASDAQ +33.82 SP500 +14.47 NASDAQ Adv/Vol/Dec 1838/1.88 bln/870 NYSE Adv/Vol/Dec 2275/856 mln/773

3:00 pm : Stocks continue to trade with handsome gains, but the S&P 500 has had some difficulty pushing past the 1205 line.

Nonetheless, broad-based buying has helped materials stocks climb to a 0.3% gain after they had lagged for the first half of the session. Materials stocks, consumer staples stocks (+0.7%), and health care stocks (+0.7%) make up the only sectors that trade with gains of less than 1%. DJ30 +162.34 NASDAQ +39.65 SP500 +17.82 NASDAQ Adv/Vol/Dec 1901/1.70 bln/805 NYSE Adv/Vol/Dec 2350/758 mln/704

2:30 pm : Stocks have managed to stretch their gains so that the S&P 500 has now come into contact with the 1205 line. The move still has a bit to go before it will have fully erased the 1.7% slide that stocks endured this past Friday.

Small-cap stocks are especially strong this session. In turn, the Russell 2000 is up 2.1%, which puts it well ahead of any of the headline indices. Jackson Hewitt (JTX 2.14, +0.46) is a primary leader among small caps at the moment; the company announced this morning that it has amended its credit agreement to help it continue operations. DJ30 +167.17 NASDAQ +40.31 SP500 +18.44 NASDAQ Adv/Vol/Dec 1885/1.57 bln/817 NYSE Adv/Vol/Dec 2353/692 mln/684

2:00 pm : Shares of auto makers are a bit mixed at the moment, despite considerable broader market support. The action comes after Toyota Motor (TM 77.73, +0.64) said that its U.S. sales for April increased 24% year-over-year, while Honda Motor (HMC 33.82, +0.03) posted for April an annual increase of almost 13% in U.S. sales. Ford Motor (F 13.33, +0.31) reported that its sales for April were up 25% from the year before. DJ30 +158.45 NASDAQ +40.21 SP500 +16.83 NASDAQ Adv/Vol/Dec 1845/1.44 bln/844 NYSE Adv/Vol/Dec 2303/633 mln/733

1:30 pm : The S&P 500 has started to move sideways just above the 1200 line. The strong, steady gains have weighed heavily on volatility, such that the Volatility Index is down 10%. It had actually spiked some 20% this past Friday, when stocks were whacked by a widespread selloff.

Amid the low-volatility, Treasuries have been out of favor for virtually the entire session. At the moment, the benchmark 10-year Note is down 11 ticks, which puts its yield back near 3.70%. DJ30 +147.07 NASDAQ +37.77 SP500 +15.14 NASDAQ Adv/Vol/Dec 1807/1.33 bln/866 NYSE Adv/Vol/Dec 2265/581 mln/743

1:00 pm : Sellers controlled the close of April, but buyers have stepped back in to get May started on a strong note. Ensuing gains have been broad based and put the S&P 500 back above the psychologically significant 1200 line.

The tone of trade has been positive all session, despite a lack of help in the early going from overseas markets, many of which were closed. Of those that were open, Hong Kong's Hang Seng fell 1.4% as banking issues were pressured by another reserve ratio hike. Meanwhile, France's CAC and Germany's DAX were mired with modest losses as many were uninspired by news that the European Union and International Monetary Fund agreed to provide Greece with 110 billion euros in financial aid.

Lack of enthusiasm for the plan may be partly attributable to Germany's hesitance to fully commit to the plan. Despite their relative weakness, the DAX and CAC were able to recover to a gain once U.S. stocks started to trade.

Buying in the U.S. has been broad based with nine of the 10 major sectors in higher ground. The move has come in the face of a stronger dollar, which currently sports a 0.6% gain and is back near the multimonth high that it set last week.

Materials stocks make up the only sector that has failed to find higher ground -- as a group they are currently down 0.4%. Metals and miners are a primary source of weakness in the pack; they are down even though the price of physical metals is up.

Oil prices have also staged a solid gain. As such, the price of crude oil is up 0.7% to $86.80. The jump in oil prices has combined with broader market support to give the energy sector a 0.4% gain after it had retreated into the red earlier this session. However, pressure persists against BP Plc (BP 48.14, -4.01) amid ongoing concerns regarding fallout from the recent oil spill in the Gulf.

Consumer discretionary stocks are the best performers this session. The sector is currently up 2.4%. Airlines are also strong. In fact, the Amex Airline Index is up 2.7% after it was announced that Continental (CAL 22.89, +0.54) and United (UAUA 22.13, +0.53) agreed to a definitive merger that will give 1.05 shares of UAUA common stock for each CAL share.

Economic data for the day featured an in-line personal income and spending increase for March -- 0.3% and 0.6%, respectively. Core personal consumption expenditures made a tepid 0.1% increase when they had been expected to be flat.

The ISM Manufacturing Index for April came in at 60.4, which was essentially on par with the 60.0 that had been widely expected.

Meanwhile, construction spending for March made a surprise increase of 0.2%. It had been expected to fall by 0.5%. DJ30 +142.23 NASDAQ +38.38 SP500 +15.40 NASDAQ Adv/Vol/Dec 1784/1.22 bln/888 NYSE Adv/Vol/Dec 2266/532 mln/734

12:30 pm : A sudden bout of buying has sent stocks sharply higher so that they are now at their best levels of the session and the S&P 500 has come in contact with the psychologically significant 1200 line. Though gains are strong and broad, the move still has a ways to go before it will have undone the 1.7% slide that was posted this past Friday.

Commodity prices have staged a comeback after succumbing to some recent selling. Among the strongest performing commodities, oil prices are now up 1.0% to $87.00 per barrel.

The spike in oil prices has combined with broader market support to send the energy sector back into positive territory. It had been down roughly 0.6% at its session low, but it now sports a 0.3% gain. DJ30 +136.19 NASDAQ +36.14 SP500 +13.78 NASDAQ Adv/Vol/Dec 1761/1.08 bln/876 NYSE Adv/Vol/Dec 2195/469 mln/787

12:00 pm : The stock market has made its way to a fractionally improved session high. The move comes in the face of a stronger dollar, which actually set a fresh session high of its own in recent action -- the greenback is now up 0.7% against competing currencies.

The move among stocks has been broad based, but airline stocks are among the best performers. The group is up more than 2%, according to the Amex Airline Index. The airline space has been spurred higher by takeover chatter after it was announced that Continental (CAL 22.78, +0.43) and United (UAUA 22.13, +0.53) agreed to a definitive merger. As part of the agreement CAL shareholders will receive 1.05 shares of UAUA common stock for each CAL share already owned. DJ30 +92.05 NASDAQ +26.88 SP500 +9.40 NASDAQ Adv/Vol/Dec 1645/954 mln/970 NYSE Adv/Vol/Dec 2065/418 mln/891

11:30 am : The Dollar Index now sports a 0.7% gain, which makes for a fresh session high. Its climb has undercut commodities, which are now flat overall, according to the CRB Commodity Index.

Meanwhile, stocks have bounced back from a recent slide. However, they have yet to fully retrace the move and make their way back to their morning highs.

Consumer discretionary stocks are looking quite strong at the moment. The sector is currently up 1.5%, which makes it the best performing sector in the broader market. DJ30 +86.54 NASDAQ +20.84 SP500 +7.84 NASDAQ Adv/Vol/Dec 1614/812 mln/1005 NYSE Adv/Vol/Dec 2002/363 mln/920

11:00 am : Stocks have drifted off of their morning highs, but the major indices continue to trade with comfortable gains.

Weakness has become considerably pronounced among materials stocks, though. The sector is now down 1.1% as the gold and silver stocks that outperformed during the selloff this past Friday come under pressure. As such, Newmont Mining (NEM 53.97, -2.11) and Barrick Gold (ABX 42.47, -1.08) are primary sources of weakness in the materials sector.

Energy stocks have also fallen into the red. The sector currently contends with a 0.5% loss, which comes as sellers apply additional pressure against shares of integrated oil outfit BP Plc (BP 48.22, -3.93) amid persistent uncertainty regarding the fallout from the recent oil spill in the Gulf. DJ30 +57.67 NASDAQ +14.85 SP500 +5.23 NASDAQ Adv/Vol/Dec 1535/686 mln/1040 NYSE Adv/Vol/Dec 1885/303 mln/986

10:30 am : Commodities are generally strong this morning, despite a 0.5% gain by the greenback against competing currencies. In turn, the CRB Commodity Index is up 0.2%.

At an individual level, oil prices are up 0.5% to $86.60 per barrel. Meanwhile, natural gas prices have bounced back from a string of losses last week to sport a 1.1% gain at $3.96 per MMBtu.

Gold prices are up 0.5% to $1187.30 per ounce. Silver prices have spiked 1.2% to $18.86 per ounce. DJ30 +88.50 NASDAQ +20.91 SP500 +8.41 NASDAQ Adv/Vol/Dec 1653/515 mln/880 NYSE Adv/Vol/Dec 2092/225 mln/751

10:00 am : The ISM Manufacturing Index for April came in at 60.4, which is slightly above the 60.0 that had been widely expected. It also marks a modest improvement from the 59.6 that had been posted in March.

Construction spending for March made a surprise increase of 0.2%. It had been expected to fall by 0.5%. Spending for the prior month was revised lower to reflect a 2.1% decline.

Stocks haven't made much of a reaction to the news. Instead, they continue to trade with solid, broad-based gains modestly below their morning highs.

Advancing Sectors: Financials (+1.2%), Industrials (+1.2%), Consumer Discretionary (+1.0%), Telecom (+0.7%), Tech (+0.6%), Utilities (+0.2%), Health Care (+0.2%), Energy (+0.1%), Consumer Staples (+0.1%)
Declining Sectors: Materials (-0.2%) DJ30 +72.93 NASDAQ +13.55 SP500 +6.89 NASDAQ Adv/Vol/Dec 1520/329 mln/955 NYSE Adv/Vol/Dec 1986/150 mln/814

09:45 am : Broad-based buying has all 10 major sectors in the S&P 500 in positive territory. Their collective strength has taken the S&P 500 markedly higher, resistance at 1195 has caused the broad-market measure to pull back a bit.

Financials are currently a key source of leadership. The sector is up 1.1% as consumer finance stocks climb 2.0% and investment banks and brokerages ascend to a 1.4% gain. Various REITs are also especially strong.

Materials stocks are in positive ground, but they trail the broader market. The sector is currently up just 0.1% as steel stocks (-1.3%) and gold stocks (-1.4%) come under pressure. DJ30 +69.76 NASDAQ +15.52 SP500 +7.58 NASDAQ Adv/Vol/Dec 1509/200 mln/839 NYSE Adv/Vol/Dec 1993/105 mln/685

09:15 am : S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +8.00. Stocks closed April on a weak note, but they still made it out of the month with a 1.1% gain. Now, stock futures point to a solid start for the first session of May. The upbeat tone comes amid news that the European Union and International Monetary Fund have agreed to provide Greece with 110 billion euros in financial aid. The amount vastly exceeds the 45 billion euros that had originally been proposed, but some uncertainty remains in that Germany has yet to fully commit to the plan and there are questions whether the plan will fully stem contagion risk in the continent. In turn, the news has failed to inspire buyers at Europe's major bourses, but early participants have shown an interest in U.S. stocks and the U.S. dollar, which is up solidly against a basket of foreign currencies this morning. Economic data has supported such interest as both spending and income increases for March proved in-line with expectations. Construction spending for March and the April ISM Manufacturing Index are due at 10:00 AM ET.

09:00 am : S&P futures vs fair value: +5.50. Nasdaq futures vs fair value: +7.80. Both U.S. stock futures and the U.S. dollar continue to trade with strength. In contrast, Europe's major bourses are reather weak and the euro has fallen to 1.3237 against the dollar amid news that the European Union and International Monetary Fund have pledged 110 billion euros to Greece. Germany's DAX is currently down 0.1%. Its declining issues and its advancers are evenly split, but Siemens (SI) is exceptionally weak. In France, the CAC is off by 0.4%. Its declining issues outnumber its advancers by nearly 3-to-1. Sanofi-Aventis (SNY) is among the heaviest drags. As for Britain's FTSE, it is closed for the session. In Asia, both Japan's Nikkei and China's Shanghai Composite were closed. However, Hong Kong's Hang Seng was open and slid to a 1.4% loss. Financials were the weakest as China once more raised the reserve requirement for banks. In turn, HSBC (HBC), China Construction Bank, and Industrial & Commercial Bank led losses. Of the Hang Seng's 43 members, only Tencent Holdings, CLP Holdings, and Hong Kong Electric mustered gains.

08:35 am : S&P futures vs fair value: +6.20. Nasdaq futures vs fair value: +8.50. Stock futures have shown no real response to the personal income and spending figures for March, mainly since both were in-line with the consensus -- personal income increased 0.3% and personal spending increased 0.6%. Core personal consumption expenditures had been expected to be flat, but instead they made a 0.1% monthly increase. Year-over-year, core personal consumption expenditures increased 1.3%, as predicted.

08:00 am : S&P futures vs fair value: +5.70. Nasdaq futures vs fair value: +7.50. Stock futures are up firmly in the face of a stronger dollar, which has already gained 0.4% against a basket of foreign currencies this morning. Most of the greenback's gain comes against the euro, which has fallen in the wake of news that the European Union and International Monetary Fund will provide Greece with $146 billion in financial aid. Germany has yet to approve its portion of the plan, though. There haven't been any earnings of broad consequence this morning, but personal income and spending data for March is due at 8:30 AM ET. The ISM Manufacturing Index for April and construction spending figures for March follow at 10:00 AM ET. Monthly auto sales announcements will be made sporadically throughout the day.

06:46 am : S&P futures vs fair value: +4.60. Nasdaq futures vs fair value: +7.00.

06:46 am : Nikkei...Holiday......... Hang Seng...20811.36...-297.20...-1.40%.

06:46 am : FTSE...Holiday......... DAX...6211.27...-13.50...-0.20%.

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
Business Hours: 8am - 5pm est (Mon - Fri)
Skype Messenger: kebec2002
questions@thestrategylab.com
Go Back To TheStrategyLab.com Homepage


Top
 Profile  
 
Display posts from previous:  Sort by  
Post new topic Reply to topic  [ 1 post ] 

All times are UTC - 5 hours [ DST ]


Who is online

Users browsing this forum: No registered users and 2 guests


You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot post attachments in this forum

Search for:
Jump to:  
cron
Powered by phpBB © 2000, 2002, 2005, 2007 phpBB Group
Translated by Xaphos © 2007, 2008, 2009 phpBB.fr