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 9:37 am

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: June 3rd Thursday 2010 Emini TF ($TF_F) points +27.30
PostPosted: Fri Jun 04, 2010 5:09 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, this public trade journal contains useful trading tips a few times per week to encourage readers to return for more information and to help ensure I myself don't forget the importance of basic concepts within my own trading plan. Further, there are market summaries from Youtube Bloomberg, CNNMoney and Yahoo Finance as a quick archive of what happened in the markets on a particular day of trading. Thus, if you're looking for trading tips and market summaries that can improve your trading and/or understanding of what happen on a particular day that 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.

Today's #FuturesTrades chat room logs is archived @ http://www.thestrategylab.com/ftchat/forum/viewtopic.php?f=75&t=536.

Quote:
Today's results are 8 wins : 1 loss : 1 breakeven (see above #FuturesTrades log). I really don't have any thing to say due to the fact that I have a lot of personal things going on right now that's a big distraction after the market close. However, several of my best trades today was via the Volatility Trading Report (VTR).

Trading Tip: S/R Analysis was not designed to imply the price action will reverse when these levels are reached. In contrast, they were designed to look for a change in supply/demand when s/r levels are reached.


FYI - You can ask me questions here at the forum or you can tweet me on twitter about any thing 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).

Image WRB Analysis Tutorials @ http://www.thestrategylab.com/WRBAnalysisTutorials.htm

Image Volatility Trading Report (VTR) @ http://www.thestrategylab.com/VolatilityTrading.htm

Image Daily Trade Routine @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=109&t=652

Trade Performance for Today: +27.30 points or $2,730 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures
Attachment:
060310_wrbtrader_PnL_Blotter_Profit.png
060310_wrbtrader_PnL_Blotter_Profit.png [ 32.29 KiB | Viewed 1638 times ]

1 tick or 0.10 = $10 dollars and to find out more contract information about the Russell 2000 Emini TF...click here.
------------------------------

The market summaries below are courtesy of Bloomberg, CNNMoney and Yahoo! Finance. gm


http://www.youtube.com/v/Qb47BHbs190

Stocks Stage Recovery
By Alexandra Twin, senior writer
June 3, 2010: 5:59 PM ET

NEW YORK (CNNMoney.com) -- Stocks managed gains Thursday following a choppy session in which investors mulled mixed economic news ahead of Friday's big monthly jobs report.

The Dow Jones industrial average (INDU) added a few points. The S&P 500 index (SPX) gained 4 points, or 0.4%. The Nasdaq composite (COMP) rallied 22 points, or 1%.

Stocks gained in the morning, turned mixed in the afternoon as the euro retreated and then staged another rally near the close.

The weak euro, a spike in crude oil prices and a rise in Treasury prices were all in play during the session. Financial shares were mostly lower, while Nasdaq components Microsoft (MSFT, Fortune 500), Yahoo (YHOO, Fortune 500) and Dell (DELL, Fortune 500) helped lift that index.

On a broader level, the market is churning following a month-long "correction" that set the Dow, S&P 500 and the Nasdaq more than 10% off the recent rally highs. Stocks slumped during that period on worries that the European debt crisis and weak euro will hurt global growth.

Although economists don't expect the country to head into a double-dip recession, the recent economic news has been mixed, adding to investor concerns. That was evident in the morning's readings on jobs, factory activity and services.

Investors are also wary of the correction becoming a bigger sell-off and ultimately a bear market -- a decline of more than 20% off the lows.

"The bears think nothing has changed, we continue to have problems and things are going to get worse, while the bulls say the correction was typical and we're doing fine," said Joe Clark, market analyst at Financial Enhancement Group.

He said that this push-pull is keeping the market choppy right now. "From a trading perspective, the S&P is probably in a range between 1,040 and 1,110, and if it can get past that 1,110 range, a lot of managers will start putting money to work."

The S&P 500 ended Thursday at 1,102.
State finances hitting bottom

Energy: The broad stock market advanced Wednesday as energy shares bounced back from the recent drubbing sparked by the BP (BP) oil spill in the Gulf.

But energy stocks were mixed Thursday as investors mulled BP's latest efforts to plug the massive oil leak, more than 6 weeks after its Deepwater Horizon rig exploded. Two ratings agencies downgraded BP, citing the financial impact and hit to its reputation as a result of the explosion.

Nonetheless, shares of both BP and Transocean (RIG), the owner of the rig, gained as BP said its latest effort, involving the use of underwater robots, was having some success.
0:00 /2:40The cost of a catastrophe

Jobs market: Reports on the labor market were released before the market open that showed some improvement. However, results were shy of economists' expectations.

The number of Americans filing new claims for unemployment fell to 453,000 last week from a revised 463,000 the previous week. Economists expected 455,000 new claims. But continuing claims, a measure of those receiving benefits for a week or more, rose to 4,666,000 versus forecasts for a decline to 4,600,000 from 4,635,000 the previous week.

Payroll services firm ADP said private-sector employers added 55,000 jobs to their payrolls in May after adding 65,000 in April, short of forecasts for a gain of 60,000.

On Wednesday, outplacement firm Challenger, Gray & Christmas said planned job cuts rose 1.3% in May, although the pace of downsizing continued to slow.

Friday's jobs report is the biggest of the week. The government is expected to report that employers added 500,000 to their payrolls last month, due partly to the impact of the Census jobs. Employers added 290,000 in the previous month. The unemployment rate, generated by a separate survey, is expected to have fallen to 9.8% from 9.9% in the previous month.

Economy: Another report from the Commerce Department showed that factory orders increased 1.2% in April, short of the forecast for a rise of 1.7%. Orders grew 1.7% in March.

The Institute for Supply Management's services sector index for May held steady at 55.4, missing forecasts for a rise to 55.6. However, any reading over 50 shows expansion in the sector.

Retail: In other economic news, the nation's chain stores reported the ninth straight month of gains in May, with discounters such as Costco (COST, Fortune 500) leading the charge.

Euro: The euro inched lower versus the dollar after touching a four-year low of $1.2111 on Tuesday. The euro lost 0.6% versus the greenback.

The dollar fell 0.1% against the yen.

World markets: Markets in Europe rallied. Britain's FTSE 100 gained 1.2%, Germany's DAX added 1.2% and France's CAC 40 advanced 1.6%.

Asian markets ended higher. Japan's Nikkei rallied 3.2% and Hong Kong's Hang Seng rose 1.6%.

Commodities: U.S. light crude oil for July delivery rose $1.75 to settle at $74.61 a barrel on the New York Mercantile Exchange.

COMEX gold for August delivery fell $12.60 to settle at $1,210 an ounce.

Bonds: Treasury prices fell, pushing the yield on the 10-year note to 3.38% from 3.33% late Wednesday. Treasury prices and yields move in opposite directions.

Trading volume: Market breadth was narrowly positive and trading volume was moderate. On the New York Stock Exchange, winners beat losers by more than three to two on volume of 1.22 billion shares. On the Nasdaq, advancers topped decliners by eight to five on volume of 2.21 billion shares.

Image

Yahoo! Finance

4:30 pm : A barrage of economic reports provided plenty of catalysts for trade, but broader market muddled along for most of the session. Large-cap tech led the Nasdaq to a strong gain, though.

Market participants got a preview of tomorrow's pivotal nonfarm payrolls report with the release of the May ADP Employment Change report, which indicated that private sector payrolls increased by 55,000 last month. However, that was actually weaker than the 70,000 increase that had been widely expected.

Initial claims for the week ended May 29 totaled 453,000, which is on par with the 455,000 initial claims that many had come to expect. Continuing jobless claims climbed to 4.67 million, which is more than the 4.61 million that had been expected.

The ISM Services Index for May came in at 55.4, which is in-line with expectations for a reading of 55.6.

Factory orders for April increased 1.2%, which is a slower rate than the 1.7% increase that many had expected.

In other economic news, first quarter nonfarm productivity increased of 2.8%, which is less than the expected 3.3% increase. Unit labor costs for the first quarter fell 1.3%, which is a softer decline than the 1.6% drop that had been widely expected.

There was an underwhelming response to the large dose of data. Corporate headlines, which were generally limited, also did little to inspire.

Roughly half of the monthly same-store sales reports in Briefing.com's coverage universe missed expectations. That left the group to lag the broader market for the better part of the session and finish with a fractional gain.

BP Plc (BP 39.27, +1.61) had its debt downgraded by analysts at Fitch, but the stock managed to rally and settle at a session high as energy stocks caught a late bid amid comments from Senator Reid about lifting the damage liability cap on companies in response to the oil spill in the Gulf of Mexico. Energy stocks settled with a 1.1% gain.

Strength in the energy sector was likely helped by higher prices. Specifically, crude oil futures prices closed pit trade with a 2.4% gain at $74.61 per barrel. Its strength came from a combination of rising concerns about supply constraints and inventory data that showed a surprise draw of 1.90 million barrels.

Tech also finished the session with a 1.1% gain. Large-cap plays like Google (GOOG 504.98, +11.61), Microsoft (MSFT 26.86, +0.40), and Cisco (CSCO 23.72, +0.37) underpinned the sector's strength and helped the tech-rich Nasdaq outperform the other two headline indices.

While tech and energy, two of the largest sectors by market weight, were strong, the broader market spent the session chopping along in lackluster fashion. The muddled trade came partly in response to a weaker euro, which fell 0.7% to the $1.261 level.

Technical resistance also kept a cap on the broader market's moves. While buyers still showed modest support, they appeared to lack conviction as the S&P 500 faded near its 200-day moving average.

Trading volume was relatively light in that 1.2 billion shares exchanged hands on the NYSE this session. That's below the 50-day moving average of almost 1.4 billion shares.

Advancing Sectors: Tech (+1.1%), Energy (+1.1%), Utilities (+1.0%), Industrials (+0.5%), Health Care (+0.5%), Consumer Discretionary (+0.4%), Telecom (+0.2%), Consumer Staples (+0.1%)
Declining Sectors: Materials (-1.1%), Financials (-0.5%) DJ30 +5.74 NASDAQ +21.96 SP500 +4.45 NASDAQ Adv/Vol/Dec 1640/2.20 bln/998 NYSE Adv/Vol/Dec 1923/1.22 bln/1076

3:30 pm : Energy prices traded with strength for the better part of the session. Specifically, crude oil futures prices made only a momentary slip into negative territory before a flurry of buying in afternoon action helped the commodity close pit trade with a 2.4% gain at $74.61 per barrel. Most of the late move was owed to rising concerns about supply constraints, while early strength came amid news that crude oil inventories for the week ended May 28 had a draw of 1.90 million barrels when no change had been expected.

A smaller-than-expected build of 88 bcf for the week ended May 28 helped natural gas prices climb sharply. The energy component closed pit trade near its session high with a 5.9% gain at $4.69 per MMBtu.

Precious metals remained weak. As a group they lost 1.4%. Individually, gold gave up 1.0% to settle at $1210 per ounce. Silver settled 2.5% lower at $17.86 per ounce. DJ30 -8.31 NASDAQ +18.58 SP500 +3.07 NASDAQ Adv/Vol/Dec 1513/1.7 bln/1097 NYSE Adv/Vol/Dec 1779/899.5 mln/1202

3:00 pm : Tech stocks continue to attract support, such that the sector is now at a fresh session high with a 1.0% gain. Leadership from tech stocks, which represent the largest sector by market weight in the S&P 500, have helped push the broader market to its best level of the afternoon. Still, the stock market's overall gain remains modest.

The move by stocks has caused a pullback among Treasuries. Specifically, the benchmark 10-year Note had reversed an early loss to trade flat by midsession, but it is now back down with a near 10-tick loss. DJ30 -10.88 NASDAQ +15.99 SP500 +2.19 NASDAQ Adv/Vol/Dec 1506/1.61 bln/1096 NYSE Adv/Vol/Dec 1765/820 mln/1202

2:30 pm : The stock market has worked its way back into positive territory, but the Dow remains mired in negative territory with a moderate loss. The Nasdaq is outperforming its two counterparts, thanks to leadership from large-cap tech issues like Google (GOOG 504.61, +11.24), Microsoft (MSFT 26.76, +0.30), Cisco (CSCO 23.49, +0.14), and Oracle (ORCL 22.86, +0.22). DJ30 -24.19 NASDAQ +11.95 SP500 +0.84 NASDAQ Adv/Vol/Dec 1409/1.47 bln/1182 NYSE Adv/Vol/Dec 1651/744 mln/1307

2:00 pm : Small-cap stocks have shown relative strength this session. As a group, they are flat, while the broader market is down roughly 0.2%.

Within the Russell 2000 Small-Cap Index, semiconductor play FuelCell (FCEL 2.50, +0.37) has shown exceptional strength. The stock has surged amid reports that it has won a contract worth more than $12 million with utility PG&E (PCG 41.59, +0.01).

American Capital (ACAS 4.54, -0.68) is an especially weak small-cap stock, though. The stock has been bombarded with selling in the wake of a pessimistic analyst report. DJ30 -42.02 NASDAQ +5.92 SP500 -2.54 NASDAQ Adv/Vol/Dec 1234/1.34 bln/1345 NYSE Adv/Vol/Dec 1401/665 mln/1544

1:30 pm : The broader market remains mired in negative territory with a modest loss. Tech has been one of its few sources of support; the sector is up 0.4%. The tech sector's relative strength has helped keep the Nasdaq out in front of the S&P 500. DJ30 -44.74 NASDAQ +2.00 SP500 -3.17 NASDAQ Adv/Vol/Dec 1155/1.23 bln/1415 NYSE Adv/Vol/Dec 1348/612 mln/1575

1:00 pm : A lack of leadership in the presence of technical resistance and a weaker euro have caused stocks to surrender early gains.

Momentum from the prior session carried over into early trade and helped stocks push higher. However, there wasn't a clear leader in the bunch, so stocks put up little fight when the S&P 500 was rebuffed by resistance at its 200-day moving average.

The broader market was also weakened by a pullback in the euro, which has been a key catalyst for trade in recent weeks, given the tacit signals it sends about the fiscal health of the eurozone. The euro is currently down 0.6% to the $1.218 level.

The stock market has been left to trade with a modest loss. Weakness is focused around materials stocks (-2.2%) and financials (-1.3%).

Data hasn't really done anything to keep buyers in the market ahead of the official nonfarm payrolls report tomorrow. In a preview of that release, the ADP Employment Change report showed a smaller-than-expected increase in private payrolls.

Keeping with the jobs picture, weekly initial jobless claims were in-line with expectations, but continuing jobless claims climbed more than expected.

The ISM Services Index for May was in step with the prior month's reading and in-line with the consensus, but factor orders for April saw a softer-than-expected increase.

Meanwhile, first quarter nonfarm productivity made a smaller-than-expected increase.

Corporate news flow hasn't been inspiring either. A raft of monthly same-store sales results were released earlier this morning. Roughly half of the reports that Briefing.com covers managed to meet or exceed expectations. Retailers currently trade with a collective loss of 0.5%.

BP Plc (BP 37.77, +0.11) is still at the center of controversy. Concerns about the ramifications of its oil spill led analysts at Fitch to downgrade the company's debt.

Still, shares of BP are among the few names in the energy sector that have managed to muster a modest gain. Energy stocks, as a group, are down 0.6%. Higher energy prices on the back of bullish inventory data haven't helped; oil prices are currently up 0.4% to $73.15 per barrel, while natural gas prices are up 4.1% to $4.60 per MMBtu. DJ30 -39.26 NASDAQ +4.27 SP500 -2.71 NASDAQ Adv/Vol/Dec 1219/1.17 bln/1330 NYSE Adv/Vol/Dec 1421/572 mln/1505

12:30 pm : Selling pressure has picked up to take the major averages to fresh session lows. The slide has been broad based.

Treasuries have responded positively to the stock market's downturn. The benchmark 10-year Note had been down close to 15 ticks earlier this morning, but it is now flat. That puts its yield back at 3.34%. DJ30 -69.30 NASDAQ -4.13 SP500 -5.32 NASDAQ Adv/Vol/Dec 1128/1.05 bln/1400 NYSE Adv/Vol/Dec 1273/519 mln/1649

12:00 pm : The Dow has slipped into the red to trade with a fractional loss, but the S&P 500 continues to hold on to a slight gain. The Nasdaq remains firmly higher, however.

The Nasdaq's relative strength stems largely from gains among tech stocks. Tech stocks are up a collective 0.6%, which makes it the best performing sector now that utilities stocks have halved their gains to trade roughly 0.4% in the green. DJ30 -8.16 NASDAQ +11.53 SP500 +0.77 NASDAQ Adv/Vol/Dec 1507/914 mln/1013 NYSE Adv/Vol/Dec 1757/450 mln/1141

11:30 am : Listless action continues to keep stocks from trading in any clear direction.

There isn't much leadership this morning. With a 0.9% gain, utilties make up the best performing sector in the S&P 500. However, utilities stocks represent just 3.5% of the total market weight of the S&P 500.

A pullback by the euro hasn't helped the tone of trade either. The euro had been down with only a fractional loss earlier this morning, but it is now down 0.4% to the $1.22 level. DJ30 +0.30 NASDAQ +11.82 SP500 +1.65 NASDAQ Adv/Vol/Dec 1500/769 mln/965 NYSE Adv/Vol/Dec 1781/388 mln/1041

11:00 am : Oil prices have pushed to a 1.6% gain at $74.00 per barrel with the release of the latest weekly oil inventory data. Crude oil inventories for the week ended May 28 showed a draw of 1.90 million barrels when no change had been expected after a build of 2.46 million barrels for the previous week.

Natural gas prices have extended their gains, too. The commodity was last quoted at $4.56 per MMBtu, up 3.1%.

Despite the higher energy prices, energy stocks have had a lackluster session so far. The sector is up just 0.2%, which puts it slightly behind the broader market. DJ30 +22.07 NASDAQ +12.43 SP500 +3.59 NASDAQ Adv/Vol/Dec 1580/645 mln/849 NYSE Adv/Vol/Dec 1879/331 mln/929

10:30 am : Natural gas prices recently turned an early, modest advance into a 2.0% gain at $4.51 per MMBtu with the release of the latest weekly natural gas inventory figures. Natural gas in storage for the week ended May 28 showed a build of 88 bcf, which is smaller than the expected build of 95 bcf.

Oil prices are also up, though not quite as impressively so. They were last quoted with a 0.5% gain at $73.20 per barrel. Oil inventory data for the week ended May 28 is due at the top of the hour.

Precious metals are underperforming for the second straight session. Gold prices were last quoted with a 0.4% loss at $1215.50 per ounce and silver was last priced at $18.29 per ounce, down 0.2%. DJ30 +3.32 NASDAQ +3.57 SP500 +0.41 NASDAQ Adv/Vol/Dec 1380/499 mln/998 NYSE Adv/Vol/Dec 1592/258 mln/1116

10:00 am : Stocks have extended their opening gains amid broad-based support, but basic materials stocks continue to lag. The sector is now down 0.4%, which puts it at a morning low. Diversified metals and miners (-1.6%) are the culprits behind the sector's weakness.

Just released, factor orders for April increased 1.2%, which is softer than the 1.7% increase that many had expected and also softer than the 1.7% increase that was registered in the prior month.

The ISM Services Index for May came in at 55.4, which is in step with the prior month's reading and in-line with the concensus call for a reading of 55.6. DJ30 +48.37 NASDAQ +16.28 SP500 +6.23 NASDAQ Adv/Vol/Dec 1653/289 mln/644 NYSE Adv/Vol/Dec 2027/160 mln/674

09:45 am : Despite a mixed batch of same-store sales reports for May, shares of retailers are up a collective 0.5%, which puts the group out in front of the broader market.

Basic materials stocks are at the other end of the spectrum. They are down with a 0.3% loss as diversified metals and mining stocks slide 1% to surrender some of the outsized gains that they logged in the previous sesion. DJ30 +22.41 NASDAQ +8.79 SP500 +3.15 NASDAQ Adv/Vol/Dec 1424/148 mln/757 NYSE Adv/Vol/Dec 1781/97 mln/801

09:15 am : S&P futures vs fair value: +4.10. Nasdaq futures vs fair value: +2.80. Stock futures continue to suggest that the major equity averages will extend their prior session rally. The upward momentum on Wall Street has been helped by Europe's major bourses, which are up with gains of around 2% as a positive tone is perpetuated by global trade. More impressive is that the latest round of buying comes in the face of some rather lackluster headlines, including a mixed bag of monthly same-store sales results and a debt rating downgrade of BP Plc (BP) by analysts at Fitch. As for data, the ADP Employment Change report for May showed a smaller-than-expected increase of 55,000 private payrolls, while weekly initial jobless claims were in-line at 453,000, and continuing jobless claims made a sharper-than-expected increase to 4.67 million. The final first quarter nonfarm productivity reading showed a smaller-than-expected increase of 2.8% and unit labor costs made a softer-than-expected 1.3% slide. Still to come are monthly factory orders and the latest ISM Service Index (10:00 AM ET). Weekly natural gas inventory figures (10:30 AM ET) and weekly oil inventory data (11:00 AM ET) follow.

09:00 am : S&P futures vs fair value: +3.70. Nasdaq futures vs fair value: +1.50. A rally on Wall Street helped Europe's major bourses trim their losses in the prior session. The bourses have extended that move this session, such that Germany's DAX is up 1.7%, France's CAC is up 2.1%, and Britain's FTSE sports a 1.8% gain of its own. All 30 components in Germany's DAX are in higher ground. Gains are strongest among tech stocks, which are presently up 2.3%. Tech is also a leader in the CAC. The sector is up 2.9%. Not to be outdone, oil and gas plays are also up 3.0% as energy giant Total (TOT) provides leadership. In a similar vein, oil giant BP Plc (BP) is a leader in Britain's FTSE. BP's strength comes even though credit analysts at Fitch trimmed their ratings on the company's debt to AA from AA+. In Asia, the MSCI Asia-Pacific Index increased 2.8% and Japan's Nikkei spiked 3.2%. Fast Retailing led the way with a surge of more than 7%. Canon (CAJ) and Kyocera (KYO) also rallied, thanks partly to a weaker yen. In Hong Kong, the Hang Seng advanced 1.6%. With a 3.4% gain, consumer goods made up the best performing sector. However, global banking giant HSBC (HBC) and energy plays CNOOC (CEO) and PetroChina (PTR) displayed individual leadership. Mainland China's Shanghai Composite underperformed as it fell to a 0.7% loss. Telecommunications stocks made up the only sector to stage a gain - they finished 0.5% higher. Oil and gas plays were the weakest; they fell 1.3%.

08:35 am : S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +3.50. Stock futures continue to trade with moderate strength in the wake of a large load of data. Released at 8:15 AM ET, the latest ADP Employment Change report indicated that private payrolls increased by 55,000 in May. However, that was actually weaker than the 70,000 increase that had been widely expected. It also marked a pullback from the upwardly revised addition of 65,000 jobs in April. The latest in weekly jobless claims was just released. Initial claims for the week ended May 29 totaled 453,000, which is down 10,000 week-over-week and generally in stride with the 455,000 initial claims that many had come to expect. Continuing jobless claims increased 31,000 week-over-week to 4.67 million, which is more than the 4.61 million that had been expected. The final reading on first quarter nonfarm productivity showed an increase of 2.8%, which is a pullback from the previously reported 3.6% increase. It is also less than the expected 3.3% increase. Unit labor costs for the first quarter fell 1.3%, which is a softer decline than the 1.6% drop that had been widely expected after a 1.6% decline had been previously reported.

08:00 am : S&P futures vs fair value: +2.50. Nasdaq futures vs fair value: +0.50. A strong, broad-based bid drove the major equity averages sharply higher in the prior session. The positive tone lingers as stock futures chop along with a modest lead over fair value. Impressive gains among overseas markets have helped perpetuate the improved mood of market participants in the face of a small, but mixed batch of monthly same-store sales results. More are still to come, though. A bevy of data is due this morning, including the latest ADP Employment Change figures at 8:15 AM ET. The final reading on first quarter nonfarm productivity follows at 8:30 AM ET, which is also when the latest round of weekly jobless claims will be released. Monthly factory orders and the latest ISM Service Index come at 10:00 AM ET. Weekly natural gas inventory figures are due at 10:30 AM ET, followed by weekly oil inventory data at 11:00 AM ET. Fed Chairman Bernanke is slated to speak at a conference on small business finance in Detroit at 11:15 AM ET.

06:19 am : S&P futures vs fair value: +3.00. Nasdaq futures vs fair value: +3.00.

06:19 am : Nikkei...9914.19...+311.00...+3.20%. Hang Seng...19786.71...+314.90...+1.60%.

06:19 am : FTSE...5241.80...+90.50...+1.80%. DAX...6077.64...+96.60...+1.60%.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance 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 1 guest


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