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 Post subject: June 17th Thursday 2010 Emini TF ($TF_F) points +22.40
PostPosted: Sun Jun 20, 2010 7:50 am 
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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, 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=547

Quote:
Today's results are 5 wins : 2 losses (see above #FuturesTrades log). Usually the day before a Quadruple Witching day is not the biggest profitable day of the Quad week but it did happen today in which I exceeded my profit goal by 2x. Missed a key White WRB that setup a short signal soon after 1406pm est.

Trading Tip: Intermarket analysis is an excellent trade management tool.


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=115&t=681

Trade Performance for Today: +22.40 points or $2,240 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures

1 tick or 0.10 = $10 dollars and to find out more contract information about the Russell 2000 Emini TF...click here.
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The market summaries below are courtesy of Bloomberg, CNNMoney and Yahoo! Finance. gm

Stocks Erase Losses By Close
By Alexandra Twin, senior writer
June 17, 2010: 6:12 PM ET

NEW YORK (CNNMoney.com) -- Stocks erased losses to end higher Thursday as a rally in commodity and consumer shares helped investors to look past dour reports on jobs and manufacturing.

The Dow Jones industrial average (INDU) gained 24 points, or 0.2%. The S&P 500 index (SPX) added less than 2 points, or 0.1%, and the Nasdaq composite (COMP) ended just above unchanged.

Stocks were mixed to higher early in the session as investors weighed a rise in weekly jobless claims with better news out of Europe. But the tone turned negative after the release of weaker-than-expected readings on manufacturing and leading economic indicators (LEI).

Nonetheless, stocks managed to erase losses and end above breakeven, with the Dow sporting a small advance.

Markets have been choppy the last two session after the Dow jumped nearly 600 points, or 6%, in just over a week. That advance following a six-week selloff that saw the major gauges each lose more than 13%.

The concerns were tempered somewhat by reports out of Europe that showed Spain getting solid results for its bond auctions, easing worries that the country's fiscal woes could be in as bad as those of Greece. A separate report showed improved retail sales in Britain last month.

"I think people want to remain bullish when they look at corporate earnings and GDP, but that's tempered by debt issues in Europe and the recent retail and jobs reports, which have been pretty poor," said Robert Siewert, portfolio manager at Glenmede.

"Market participants are questioning whether the recent selloff was a typical market correction or the start of something more protracted," he said.

COMEX gold for August delivery rose $18.20 to settle at $1,248.70 an ounce, an all-time high.

Worries that the European debt crisis could send the United States back into recession have dragged on U.S. stocks over the past two months.
0:00 /1:00New video of BP oil leak

Stocks were mixed Wednesday, after BP said it was canceling its quarterly dividend and establishing a $20 billion fund to cover damages related to the Gulf oil spill. BP (BP) remained in focus Thursday as chief executive Tony Hayward testified before a House committee.

Hayward told the committee he was "deeply sorry" for the catastrophe, after lawmakers lambasted him for being oblivious to the risks that led to the explosion at the Deepwater Horizon rig and subsequent oil leak.
BP's chief accused of 'stonewalling'

Jobs: The number of Americans filing new claims for unemployment rose last week to 472,000 from 460,000 the previous week. Economists surveyed by Briefing.com thought claims would drop to 450,000.

Continuing claims, a measure of Americans who have been receiving benefits for a week or more, rose to 4,571,000 from 4,483,000 the week before, versus forecasts for a drop to 4,475,000.
Apple is the new hacker bulls-eye

Other economic news: The Philadelphia Fed index, a regional reading on manufacturing, fell to 8 in June from 21.4 in May, missing forecasts for a drop to 20, as activity slowed far more than expected.

Another report, LEI, rose 0.4% in May versus forecasts for a rise of 0.5%. LEI was flat in April.

The Consumer Price index, a measure of consumer inflation, fell 0.2% in May versus forecasts for a drop of 0.1%. CPI fell 0.1% in April. So-called core CPI, which strips out volatile food and energy prices, rose 0.1% as expected after showing no change in the previous month.

Euro: The euro rose 0.6% versus the dollar, continuing to recover after touching a four-year low of $1.188 last week. The dollar fell 0.7% against the yen.

On the move: The Dow managed to end higher, with Caterpillar (CAT, Fortune 500), Chevron (CVX, Fortune 500), Travelers (TRV, Fortune 500), IBM (IBM, Fortune 500) and Wal-Mart Stores (WMT, Fortune 500) providing the lift.

In company news, grocery chain Kroger (KR, Fortune 500) gained 3.3% after reporting higher-than-expected quarterly earnings and saying current-quarter sales are tracking roughly in line with the previous quarter.

Food and consumer products maker J.M. Smucker (SJM) reported higher quarterly net income, sending shares up 6.6%.

Market breadth was negative. On the New York Stock Exchange, losers beat winners by a narrow margin on volume of 1.16 billion shares. On the Nasdaq, decliners topped advancers by a narrow margin on volume of 1.78 billion shares.

World markets: European markets gained. Britain's FTSE 100 rose 0.3%, Germany's DAX added 0.5% and France's CAC 40 gained 0.2%.

Asian markets were mixed. Japan's Nikkei lost 0.7% and Hong Kong's Hang Seng rose 0.4%. China's Shanghai Composite lost 0.4%.

Commodities: U.S. light crude oil for July delivery fell $1.10 to settle at $76.57 a barrel on the New York Mercantile Exchange.

Bonds: Treasury prices rallied, lowering the yield on the 10-year note to 3.19% from 3.28% late Wednesday. Treasury prices and yields move in opposite directions.

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Yahoo! Finance

4:30 pm : Disappointing economic data distracted market participants from renewed strength in the euro, but stocks were able to stage a late climb and eke out a slight gain.

The euro made its way above $1.240 for the first time since May after Spain held a successful debt offering, which proved that the country can still attract investors in the face of lingering concerns about its fiscal condition. Though the euro backed off of that mark to trade at $1.239, it still ended the day with a 0.6% gain.

Strength in the euro helped support a positive tone to early trade, but the mood among market participants grew negative after a couple of dour reports were released.

Initial jobless claims for the week ended June 12 were up 12,000 week-over-week to 472,000, which is a larger tally than the 450,000 claims that economists polled by Briefing.com had expected. In another sign that labor markets remain stubbornly soft, continuing jobless claims increased 88,000 week-over-week to 4.57 million, which is greater than the 4.50 million continuing claims that many had expected.

The June Philadelphia Fed Index made for another disappointment. The barometer of regional business activity dropped to 8.0, a 10-month low, from 21.4. Many economists had expected the June reading to come in closer to 21.0.

Despite the disappointing reports, the latest consumer price data offered some assurance that the Fed can continue to employ low interest rates in its effort to foster further economic growth. Specifically, the May Consumer Price Index declined 0.2% month-over-month and core prices increased 0.1% month-over-month. Economists polled by Briefing.com had expected a 0.1% monthly decline in overall consumer prices and a 0.1% monthly increase in core prices.

As for other data, leading economic indicators for May made a 0.4% increase. That was only slightly less than the 0.5% increase that had been widely expected.

The dour portion of the data dragged down trade for the vast majority of the session. However, stocks were able to attract some late support, which ultimately made for a positive finish.

Consumer staples stocks (+0.7%) made some of the best gains as Kroger (KR 20.75, +0.67) and J.M. Smucker (SJM 61.55, +3.80) provided leadership. Both companies posted better-than-expected earnings for the latest quarter. Kroger even issued upside guidance.

BP (BP 31.71, -0.14) continued to make headlines as its Chief Executive sat in front of a congressional panel for a grueling question-and-answer session regarding the events surrounding the Gulf oil spill. Amid BP's ongoing efforts to preserve its public image and it take steps to prepare for the financial obligations that stem from the oil spill, CNBC reported that the company is planning to raise $5 billion to $10 billion in a debt offering as early as next week. BP's credit rating was lowered by S&P to A/A-1.

Participation was lacking this session as trading volume on the NYSE barely topped 1 billion shares, which is well below the NYSE's daily average of 1.44 billion shares for the past 50 sessions. Trading volume is likely to increase substantially tomorrow, given the expiration of quarterly options.

In the commodities pits, natural gas futures prices rallied 3.5% to $5.15 per MMBtu, but crude oil fell 1.1% to $76.79 per barrel. Gold prices advanced 1.3% to $1230.50 per ounce. It came within a couple points of its all-time high of $1254.50 before easing back. Silver price settled 1.4% higher at $18.44 per ounce.

Advancing Sectors: Utilities (+0.8%), Consumer Staples (+0.7%), Tech (+0.5%), Industrials (+0.2%), Energy (+0.1%), Health Care (+0.1%)
Declining Sectors: Consumer Discretionary (-0.6%), Materials (-0.3%), Financials (-0.1%), Telecom (-0.1%) DJ30 +24.71 NASDAQ +1.23 NQ100 +0.3% R2K +0.0% SP400 -0.2% SP500 +1.43 NASDAQ Adv/Vol/Dec 1316/1.77 bln/1284 NYSE Adv/Vol/Dec 1489/1.16 bln/1506

3:30 pm : The precious metals portion of the CRB Commodity Index led the way higher today as it posted 1.3% gain on the session. August gold futures closed higher by 1.3% to $1230.50 per ounce. It came within a couple points of taking out all-time highs at $1254.50, but ultimately fell short. July silver futures closed up 1.4% to $18.44 per ounce. Both precious metals used worse-than-expected economic data to move higher today.

July natural gas futures continued their recent rally today after they closed higher by 3.5% to $5.15 per MMBtu. Today's inventory data was a relative non-event. July crude oil finished lower by 1.1% to $76.79 per barrel. DJ30 -58.50 NASDAQ -13.04 SP500 -6.85 NASDAQ Adv/Vol/Dec 1002/1.4 bln/1571 NYSE Adv/Vol/Dec 1089/787.9 mln/1899

3:00 pm : Led by Kroger (KR 20.68, +0.60) and J.M. Smucker (SJM 61.42, +3.67), the consumer staples sector has made its way to a 0.3% gain, which gives it a considerable lead over the broader market. Both companies posted this morning better-than-expected earnings for the latest quarter. Kroger even issued upside guidance.

In stark contrast, the consumer discretionary sector is down 1.2%, which makes it the worst performing sector of the session. Retailers, down 1.7%, continue to cripple the sector. DJ30 -41.57 NASDAQ -7.84 SP500 -4.63 NASDAQ Adv/Vol/Dec 1108/1.25 bln/1454 NYSE Adv/Vol/Dec 1214/695 mln/1766

2:30 pm : The stock market's recent swing lost momentum as it came in contact with the neutral line, where resistance has been followed by a pick up in selling pressure. Stocks are now back to a modest loss.

Trading volume has been rather light this session. Little over an hour remains before the closing bell and yet only 640 million shares have traded hands on the NYSE. The current volume total is less than half the NYSE's average daily volume of 1.44 billion shares for the past 50 sessions. DJ30 -16.86 NASDAQ -0.83 SP500 -1.65 NASDAQ Adv/Vol/Dec 1289/1.15 bln/1265 NYSE Adv/Vol/Dec 1396/640 mln/1566

2:00 pm : A sudden spurt of buying has sent stocks on an upswing. The major equity averages are now at their best levels since the early going.

There is no specific news item to account for the stock market's recent move, but the bounce comes as the euro makes an upward push to trade with a 0.7% gain at $1.239.

Volatility has cooled amid the stock market's turn for the better. In turn, the Volatility Index is down more than 1% to its session low. DJ30 -13.23 NASDAQ +1.32 SP500 -0.80 NASDAQ Adv/Vol/Dec 1266/1.08 bln/1261 NYSE Adv/Vol/Dec 1439/590 mln/1528

1:30 pm : Trade remains lackluster as the stock market drifts along with a moderate loss. Of the major sectors in the S&P 500, only consumer staples (+0.2%) and utilities (+0.1%) are in higher ground.

Consumer discretionary stocks are under the most pressure at the moment. The sector is down 1.1% at the moment. Retailers (-1.6%) account for most of the sector's weakness. DJ30 -39.53 NASDAQ -7.31 SP500 -4.65 NASDAQ Adv/Vol/Dec 1027/988 mln/1494 NYSE Adv/Vol/Dec 1148/540 mln/1806

1:00 pm : Strength in the euro helped the stock market make a solid start, but the mood among market participants soured after a couple of doses of disappointing economic data. Stocks have been left to spend most of the session in the red.

The euro is currently up 0.4% to $1.236, but at its high the euro was above $1.240, which was last touched in late May. Favor for the euro follows a successful debt offering from Spain, which was able to show that it can still attract investors in the face of lingering concerns about the country's fiscal conditions. Yield spreads on Spain's debt also tightened.

Those developments supported a positive tone this morning, but that was short lived as sellers stepped in to apply pressure. Overall losses have been moderate for most of the session, but weakness has been widespread, such that declining issues outnumber advancers by almost 3-to-1 in the S&P 500.

The tone turned after market participants were able to digest a handful of economic reports.

The May Consumer Price Index declined 0.2% month-over-month and core prices increased 0.1% month-over-month. The lack of inflationary pressure makes it easier for the Fed to keep interest rates low so as to aid a recovery in the economy, which continues to grapple with persistently weak job conditions.

The latest weekly jobless claims count confirmed that labor markets remain soft. New unemployment claims for the week ended June 12 totaled 472,000, which is a larger tally than the 450,000 claims that economists polled by Briefing.com had expected. It also marked an increase of 12,000 from the prior week.

Continuing jobless claims didn't offer any consolation. They increased 88,000 week-over-week to 4.57 million, which is greater than the 4.50 million continuing claims that many had expected.

Adding to disappointment that stemmed from the weak jobs data, the June Philadelphia Fed Index, which is a barometer of regional business activity, dropped from 21.4 to 8.0, which is sharply lower than the 21.0 that had been broadly forecast.

Leading economic indicators for May increased 0.4%, which was only slightly less than the widely expected 0.5% increase.

Overall losses have been limited, but traditional safe havens like Treasuries and gold have fared well this session. Specifically, the benchmark 10-year Note is up nearly 20 ticks so that its yield is back below 3.20%, while the price of gold is up 1.8% to $1251 per ounce, just shy of its record high of $1254.50 per ounce.

The gain by gold bullion has given gold stocks strength, though the rest of the materials sector has been under marked pressure. Materials stocks, as a group, are down 0.9%.

Large-cap tech has been one of the few groups to trade with relative strength. They have helped the Nasdaq 100 limit its loss to just 0.1%. DJ30 -54.19 NASDAQ -9.10 SP500 -4.94 NASDAQ Adv/Vol/Dec 935/915 mln/1583 NYSE Adv/Vol/Dec 1072/497 mln/1882

12:30 pm : BP (BP 31.89, +0.04) Chief Executive Hayward is currently fielding questions from a Congressional panel on the events that led to and have transpired since the oil rig explosion that created the oil spill in the Gulf. No new information has been revealed.

While BP battles to preserve its public image and it grapples with financial obligations owed to claims associated with the oil spill, CNBC reported earlier that BP is considering a corporate debt offering to raise $5 billion to $10 billion as early as next week. DJ30 -48.37 NASDAQ -7.84 SP500 -4.72 NASDAQ Adv/Vol/Dec 913/847 mln/1576 NYSE Adv/Vol/Dec 1071/458 mln/1873

12:00 pm : The Dow and S&P 500 continue to pare their losses as they make their way up from session lows. Meanwhile, the Nasdaq is now at the neutral line and attempting to make a move into positive territory. Large-cap tech continues to provide leadership to the Nasdaq.

Though stocks have improved their position, Treasuries continue to trade with strength. As such, the benchmark 10-year Note is up nearly 20 ticks so that its yield is now back below 3.20%. DJ30 -36.21 NASDAQ -1.46 SP500 -2.64 NASDAQ Adv/Vol/Dec 1048/768 mln/1402 NYSE Adv/Vol/Dec 1166/407 mln/1738

11:30 am : The major market averages have started to trim some of their losses. The upturn comes as the euro reclaims some of its gains to trade with 0.5% gain at $1.237. The euro had been up more than 0.8% at its session high, but it recently saw that gain more than halved before it began to recover. DJ30 -47.39 NASDAQ -7.83 SP500 -4.29 NASDAQ Adv/Vol/Dec 847/678 mln/1580 NYSE Adv/Vol/Dec 928/360 mln/1966

11:00 am : Sellers have intensified their efforts to take stocks down markedly to new morning lows. Their efforts have been broad based, but materials stocks have come under the most intense pressure. In turn, the materials sector is down 1.5%, which is the worst loss of any major sector.

Of the 30 names that make up the materials sector, only Newmont Mining (NEM 59.24, +0.91) and Ball Corp (BLL 54.49, +0.05) have managed to remain in positive territory. Strength in NEM comes amid higher gold prices, which are now up 1.4% to $1247 per ounce, but the absence of a catalyst for BLL has left that stock clinging to a fractional gain. DJ30 -71.73 NASDAQ -12.91 SP500 -6.70 NASDAQ Adv/Vol/Dec 719/560 mln/1673 NYSE Adv/Vol/Dec 766/305 mln/2084

10:30 am : Despite weakness in the US Dollar Index, crude oil is trading lower in morning activity. However, precious metals are higher.

July crude oil has traded in negative territory for the majority of today's session. Crude spiked off of lows of $76.73 per barrel hit around 8:30am ET and pushed into positive territory, but quickly reversed and is now back near session lows at $76.58 per barrel, down 1.4%.

July natural gas has been in positive territory all session and has been on an uptrend since over trade. Natural gas hit session highs of $5.14 per MMBtu and was trading 3.0% higher at $5.13 per MMBtu ahead of inventory data. Following the data, which showed a build of 87 bcf versus consensus, which called for a build of 90 bcf, natural gas saw a pullback and is currently trading 2.2% higher at $5.09 per MMBtu.

Precious metals are currently trading near session highs on weakness in the dollar index. August gold gained steam in the early morning session and pushed to session highs of $1248.40 per ounce. Currently gold is 1.5% higher at $1249.10 per ounce. July silver rallied around 8:00am ET to fresh morning highs of $18.88 per ounce and is currently just under that level at $18.85 per ounce, 2.2% higher. DJ30 -75.88 NASDAQ -13.65 SP500 -7.37 NASDAQ Adv/Vol/Dec 797/400.1 mln/1545 NYSE Adv/Vol/Dec 812/227.0 mln/1963

10:00 am : The broader market recently steadied its morning slide and even recovered briefly back into positive territory, but it has since retreated back into the red following a disappointing Philadelphia Fed Index for June. The index came in at 8.0, which is below the 20.0 that was widely anticipated and down from the 21.4 that had been recorded for the prior month.

Leading economic indicators for May were also just released. They showed an increase of 0.4%, which is generally in step with the 0.5% increase that had been expected.

Despite the broader market's pullback, tech stocks have shown relative strength in the early going. The sector, which is the largest by market weight in the S&P 500, is currently up 0.2%. It is the only major sector still in positive territory. At the moment it is led by Apple (AAPL 271.66, +4.41) and NVIDIA (NVDA 12.01, +0.24). Semiconductor stocks are lagging, though. As such, the Philadelphia Semiconductor Index is down 0.6%.

Advancing Sectors: Tech (+0.2%)
Declining Sectors: Consumer Discretionary (-0.9%), Materials (-0.8%), Telecom (-0.7%), Industrials (-0.4%), Utilities (-0.3%), Health Care (-0.2%), Energy (-0.2%)
Unchanged: Financials, Consumer Staples DJ30 -43.54 NASDAQ +2.23 SP500 -1.53 NASDAQ Adv/Vol/Dec 1188/258 mln/1062 NYSE Adv/Vol/Dec 1212/155 mln/1468

09:45 am : The stock market has surrendered all of its opening gain, and then some, as a broad-based pullback takes hold.

Consumer discretionary plays are under the most pressure for the second straight session. The sector is down 0.7% as shares of homebuilders (-2.4%) continue to slide -- shares of homebuilders are down 2.0% week-to-date.

In contrast, tech stocks have shown strength in the early going. The sector has managed to hold on to a 0.2% gain as large-cap tech plays extend their gains from the prior session. DJ30 -14.97 NASDAQ -0.64 SP500 -1.39 NASDAQ Adv/Vol/Dec 1156/123 mln/941 NYSE Adv/Vol/Dec 1311/90 mln/1267

09:15 am : S&P futures vs fair value: +3.70. Nasdaq futures vs fair value: +9.80. A disappointing weekly jobless claims count undercut what had been a rather upbeat tone to premarket trade, but a positive start to the session still looks to be in order. Strength has been largely underpinned by renewed interest in the euro, which is currently up 0.6% to $1.239 following a successful debt offering from Spain. For now, the apparent demand for Spain's debt has helped to temper concerns about the country's fiscal conditions and, in turn, tighten yield spreads on its debt. Though the safety trade theme is currently off of the table, gold has garnered considerable interest, such that the price of the yellow metal is up a sharp 1.2% to $1244 per ounce. There haven't been any corporate news items of worth, but another dose of data comes at 10:00 AM ET with the release of the Philadelphia Fed Index for June and leading economic indicators for May.

09:00 am : S&P futures vs fair value: +3.40. Nasdaq futures vs fair value: +8.30. Futures for the S&P 500 are off of their highs, but they still point to a positive start for this session. Meanwhile, Europe's major bourses have given up a chunk of their recent gains. Initial gains in Europe came in response to a stronger euro after a Spain held another successful debt offering, but a rather disappointing weekly jobless claims report in the U.S. has caused Germany's DAX to pull back to trade with a 0.3% gain. Consumer goods (+1.7%) have been a key source of support as Daimler (DAI) rebounds from a weak performance in the prior session. Volkswagen is also performing well. In France, the CAC is up 0.4%. Energy giant Total (TOT) is a primary source of strength there. BP Plc (BP) has spiked to help Britain's FTSE to a 0.6% gain. Oil and gas oil stocks are up 1.9%, collectively. In Asia, Japan's Nikkei fell to a 0.7% loss as its declining issues outnumbered advancers by 4-to-1. Kyocera (KYO) was among the heaviest drags on trade. In mainland China, the Shanghai Composite closed 0.4% lower as its declining issues outnumbered its advancers by 2-to-1. China Petroleum (SNP) pulled down action and offset strength among bank stocks like Industrial & Commercial Bank, Bank of China, China Merchants Bank, and China Citic Bank. However, Industrial & Commercial Bank was a laggard on Hong Kong's Hang Seng. Still, the Hang Seng was able to stage a 0.4% gain amid leadership from oil and gas giant CNOOC (CEO).

08:35 am : S&P futures vs fair value: +1.30. Nasdaq futures vs fair value: +4.00. Stock futures have pulled back a few points following the release of initial jobless claims figures for the week ended June 12. Initial claims totaled 472,000, which is a higher count than the 450,000 initial claims that economists polled by Briefing.com had anticipated, on average. Initial claims were up 12,000 week-over-week. Continuing claims came in at 4.57 million, which is a greater count than the 4.50 million that had been expected by many. The latest continuing claims number also marked an increase of 88,000 from the prior week. Separately, the May Consumer Price Index decreased 0.2% month-over-month when economists polled by Briefing.com had expected a 0.1% monthly decline. Core prices increased 0.1% month-over-month, as expected.

08:00 am : S&P futures vs fair value: +4.50. Nasdaq futures vs fair value: +10.50. Renewed support for stocks have index futures trading comfortably above fair value. A 0.6% gain by the euro to $1.238 is the primary cause for the positive mood among premarket participants. The euro's improvement comes as credit default swap spreads tighten on the debt of Greece, Portugal, Italy, Ireland, and Spain following another successful debt offering from Spain. Tighter yield spreads among members of the PIIGS contingent and the euro's bounce have helped take Europe's major bourses markedly higher, despite overnight losses in Asia. There hasn't been much in the way of corporate news flow this morning, but both the Consumer Price Index for May and the latest weekly jobless claims count are due for release at 8:30 AM ET. At 10:00 AM ET the Philadelphia Fed Index for June and leading economic indicators for May will be released.

06:54 am : S&P futures vs fair value: +3.30. Nasdaq futures vs fair value: +6.80.

06:54 am : Nikkei...9999.40...-67.80...-0.70%. Hang Seng...20138.40...+76.30...+0.40%.

06:54 am : FTSE...5277.63...+39.60...+0.80%. DAX...6223.70...+33.10...+0.50%.

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
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