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 4:14 pm

All times are UTC - 5 hours [ DST ]




Post new topic Reply to topic  [ 1 post ] 
Author Message
 Post subject: June 22nd Tuesday 2010 Emini TF ($TF_F) points +20.50
PostPosted: Tue Jun 22, 2010 6:00 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=550

Quote:
Today's results are 7 wins : 2 losses (see above #FuturesTrades log). Similar price action today like yesterday via the weird volatility until Oil developed an impact on the price action of the Emini Futures and other key markets. However, I wasn't trading during key price reaction to Oil around 1150am est and 1350pm est (intermarket analysis)...missing some great short positions especially the 1350pm est when the Gold markets were involved.

Trading Tip: A profitable discretionary trader can involve when market conditions change whereas a profitable mechanical trader will either need to develop a new method or stop using a method to wait for favorable market conditions to return.


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: +20.50 points or $2,050 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures
Attachment:
062210_wrbtrader_PnL_Blotter_Profit.png
062210_wrbtrader_PnL_Blotter_Profit.png [ 31.94 KiB | Viewed 1623 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/5KiIdgKlHzc

Stocks Slump In Volatile Trading
By Alexandra Twin, senior writer
June 22, 2010: 4:19 PM ET

NEW YORK (CNNMoney.com) -- Stocks slipped Tuesday, giving up earlier gains in a very choppy session, amid a worse-than-expected existing home sales report and the latest on the European debt crisis.

The Dow Jones industrial average (INDU) fell 149 points, or 1.4%. The S&P 500 index (SPX) lost 18 points, or 1.6%. The tech-fueled Nasdaq composite (COMP) lost 27 points, or 1.2%.

Trading was volatile throughout Tuesday's session, with an early advance petering out after the release of the housing market report and amid the ongoing debt crisis. But the tone turned decidedly negative in the last hour.

Oil company shares tumbled in the afternoon amid the continued fallout from the BP oil spill. A judge ruled to lift the six-month ban on deep water drilling instigated in the wake of the spill, but the Obama administration has vowed to appeal the lifting of the ban.

BP (BP), Transocean (RIG), Anadarko Petroleum (APC, Fortune 500), Hallliburton (HAL, Fortune 500) and Schlumberger (SLB) were among the big decliners.
How to ride an up-and-down market

Worries that the economy could be heading into a so-called double-dip recession pummeled stocks for six weeks through early June, with the major indexes all losing close to 14%.

Since then, stocks have bounced back about 6% but trading volume has been weak, reflecting both light summer activity and the lack of conviction on the part of buyers.

Stocks initially rose Monday after China said it would let its currency rise versus the dollar, a move that could boost U.S. exports and manufacturing. But the market slipped by the close as the recent trend of last-hour volatility returned.

On the move: Declines were broad based, with 26 of 30 Dow stocks falling, led by Boeing (BA, Fortune 500), Caterpillar (CAT, Fortune 500), Chevron (CVX, Fortune 500), Hewlett-Packard (HPQ, Fortune 500), IBM (IBM, Fortune 500) and Home Depot (HD, Fortune 500).

The transportation sector was hit pretty hard, with truckers, railroads and airlines dragging down the Dow Jones Transportation Average (DJT) by 3.5%.

Among stock movers Tuesday, Apple (AAPL, Fortune 500) shares gained after confirming that it sold 3 million iPads in less than three months. Amazon.com (AMZN, Fortune 500) also bounced after sliding Monday on news that it was cutting the price of its Kindle e-reader to keep up with a competitive marketplace.

Market breadth was negative. On the New York Stock Exchange, losers beat winners nearly three to one on volume of 700 million shares. On the Nasdaq, decliners topped advancers two to one on volume of 1.34 billion shares.

Economy: Existing home sales fell to a seasonally adjusted annual unit rate of 5.66 million in May, the National Association of Realtors reported. That was down from a 5.77 million unit rate in April and short of forecasts for a rise to 6.1 million units.

In other news, White House budget director Peter Orszag is planning to resign, an administration official told CNN. He'll leave in July.

Fed: Central bank policy makers are meeting Tuesday and Wednesday with an announcement expected Wednesday afternoon regarding interest rates and the economy.

Policymakers are widely expected to hold the fed funds rate, a key overnight bank lending rate, steady at historic lows near zero and to indicate that they will continue to do so for the foreseeable future.

Of more interest will be the statement and what the Fed says about the economic outlook, particularly amid concerns that the bankers have run out of ways to prop up the economy.

Euro: The euro fell 0.3% versus the dollar but remained well above the four-year low of $1.188 it hit last week. The dollar fell 0.5% versus the yen.
0:00 /4:00Jim Rogers to China: Open up faster

World markets: European markets slipped after Fitch Ratings downgraded French bank BNP Paribas and Standard & Poor's boosted its forecast on loan losses for Spain's banking sector.

But declines were limited by the U.K.'s announcement that it will cut expenses and initiate a new tax on banks as it attempts to get its deficit under control.

Britain's FTSE 100 lost 1%, Germany's DAX gave back 0.4% and France's CAC 40 fell 0.8%.

Asian markets were mixed. Japan's Nikkei fell 1.2%, Hong Kong's Hang Seng fell 0.5% and China's Shanghai Composite added 0.1%.

Commodities: U.S. light crude oil for July delivery fell 61 cents to settle at $77.21 a barrel on the expiration date of New York Mercantile Exchange trading. The August contract, which begins active trading Wednesday, settled down 76 cents at $77.85 a barrel.

COMEX gold for August delivery rose 10 cents to $1,240.80 an ounce after closing at a record $1,258.30 on Friday.

Bonds: Treasury prices rose, lowering the yield on the 10-year note to 3.22% from 3.24% late Monday. Treasury prices and yields move in opposite directions.

Image

Yahoo! Finance

4:30 pm : Choppy, lackluster trade gave way to a broad-based selloff that left stocks to settle at session lows on Tuesday. The slide also sent the stock market back below its 200-day moving average.

Stocks had attempted to put together a relatively solid start. Early participants seemed to shrug off news that analysts at Standard & Poor's raised their estimates on loan losses for Spain's banking sector, though that news, along with a credit rating downgrade of BNP Paribas, weighed on foreign banks in overseas trade. Positive attention was paid to an upturn in the euro and British pound, which was helped by revised plans to accelerate debt reduction in the United Kingdom. The pound was quoted with a 0.3% gain against the greenback at the close, but the euro never made its way out of the red and finished 0.3% lower against the dollar.

The early attempt at an advance was undercut by disappointment related to the latest existing home sales figures. Existing home sales for May decreased 2.2% month-over-month to an annualized rate of 5.66 million units, which is less than the expected rate of 6.12 million units per year. Both homebuilders and home improvement retailers were dropped for a 2.9% loss as investors considered the implications of a slower recovery in housing.

Trade had been largely uninspired for most of the session, but weakness became widespread in the final hour. More than 95% of the names in the S&P 500 settled in the red as a result. What's more, the drop left the S&P 500 to close below its 200-day moving average.

Energy stocks were hit with some of the worst selling. In turn, the sector dropped 2.7% in its sharpest slide of the past two weeks. Drillers were given temporary relief from the selling effort as word circulated that a judge ruled against the deepwater drilling moratorium. To the point that the ruling could be challenged, CNBC reported that the White House will appeal the judge's decision. Drillers dropped 3.6%.

Even tech stocks, which had been up more than 1% in the early going, were dropped for a 0.9% loss. Large-cap tech had even helped drive the Nasdaq up to a gain of more than 1%, but the tech-rich index succumbed to the same late barrage of selling that sank the broader market.

Treasuries attracted support amid the stock market's selloff. Solid results from an auction of 2-year Treasuries helped. Dollar demand at the auction hit $138.0 billion, which is the second highest of the eight most recent auctions and the bid-to-cover came in at 3.5, which was above the 2.9 ratio seen in the previous auction.

Trading volume barely broke 1 billion shares on the NYSE. That's well below the average of more than 1.4 billion shares that the NYSE has seen during the past 50 sessions, but it is in-line with the Big Board's share volume for the past 10 sessions. The drop in share volume comes as many trading desks become more thinly staffed as summer vacation season gets into full swing.

Trading volume certainly wasn't helped by the lack of corporate news items this session. Walgreen (WAG 28.17, -1.97) was one of only a few names to issue a quarterly report this morning. The drug and convenience retailer brought in an adjusted $0.53 per share, but that missed Wall Street's consensus earnings estimate. Investors responded by dumping the stock for its worst single-session slide this year.

Corporate news flow is expected to remain sluggish in the near term, but a steady flow of data remains on tap. Tomorrow, the latest in new home sales is due in the morning, followed by the Federal Open Market Committee's latest policy statement in the afternoon.

Advancing Sectors: (None)
Declining Sectors: Energy (-2.7%), Utilities (-2.5%), Industrials (-2.4%), Materials (-2.2%), Consumer Discretionary (-2.2%), Financials (-1.5%), Consumer Staples (-1.0%), Tech (-0.9%), Health Care (-0.9%), Telecom (-0.6%) DJ30 -148.89 NASDAQ -27.29 NQ100 -0.8% R2K -2.1% SP400 -2.2% SP500 -17.89 NASDAQ Adv/Vol/Dec 579/1.90 bln/2076 NYSE Adv/Vol/Dec 617/1.12 bln/2446

3:30 pm : The CRB Commodity Index finished with a 0.4% loss today, led by the 1.3% sell off in the energy sector.

July natural gas futures shed 2.3% to finish at $4.76 per MMBtu, marking a third consecutive down-day. Profit taking from its recent run up above the $5 level has been responsible for the recent losing streak. August crude oil finished down 1% to $77.90 per barrel.

It was a rather uneventful session for precious metals. August gold closed more-or-less flat on the session at $1240.80 per ounce. July silver finished higher by 0.4% to $18.90 per ounce. DJ30 -110.01 NASDAQ -17.51 SP500 -14.08 NASDAQ Adv/Vol/Dec 763/1.5 bln/1880 NYSE Adv/Vol/Dec 719/754.3 mln/2325

3:00 pm : Downward momentum has accellerated to extend the stock market's afternoon slide. Stocks now stand at a new session low.

There is now immediate news item to account for the soured tone among market participants, but the move comes at the same time as a retreat by the euro to a 0.4% loss, which makes for an afternoon low.

There has been an increase in trading volume. Still, overall share volume is light and unlikely to hit the average level seen in recent sessions. DJ30 -105.05 NASDAQ -14.62 SP500 -15.00 NASDAQ Adv/Vol/Dec 825/1.32 bln/1802 NYSE Adv/Vol/Dec 767/670 mln/2262

2:30 pm : Stocks have been grinding lower in recent trade. The decline has put the stock market at a fresh session low.

Weakness has become widespread. In fact, nine of the 10 major sectors are in the red. Energy stocks are still under the most pressure; the sector is now down 1.9%.

Health care stocks make up the only sector that is still in positive territory. Strength among pharmaceutical stocks (+0.7%) has helped the sector hold on to a 0.2% gain. DJ30 -46.10 NASDAQ -3.62 SP500 -6.45 NASDAQ Adv/Vol/Dec 1137/1.16 bln/1467 NYSE Adv/Vol/Dec 1044/585 mln/1970

2:00 pm : The broader market continues to chop along in lackluster fashion. However, oil drillers like Cal Dive International (DVR 6.12, -0.11), ENSCO Plc (ESV 40.70, -0.04), Noble (NE 30.76, -0.59), Atwood Oceanics (ATW 27.32, +0.07), Seahawk Drilling (HAWK 11.40, +0.09), Tidewater (TDW 41.92, -0.71), and Nabors (NBR 20.66, -0.54) recently benefited from a sudden spurt in buying interest following headlines that a judge ruled against the deepwater drilling moratorium. However, the shares have since pulled back as market participants consider the possibility that the ruling could be challenged. To that point, CNBC recently reported that the White House will appeal the judge's decision. DJ30 -18.05 NASDAQ +4.76 SP500 -2.41 NASDAQ Adv/Vol/Dec 1353/1.05 bln/1221 NYSE Adv/Vol/Dec 1284/526 mln/1693

1:30 pm : Results from an auction of 2-year Treasuries was released at the top of the hour. The auction drew strong interest as the dollar demand was $138.0 billion, which is the second highest of the previous eight auctions (including this one). The auction produced a bid-to-cover of 3.5 and an indirect bidder participation rate of 41.4%. During the prior auction the bid-to-cover ratio came in at 2.93 and indirect bidder participation was 36.2%.

Treasuries have ticked higher in response to the announcement. In turn, the benchmark 10-year Note is now up almost 15 ticks and its yield is back below 3.20%. The 2-year Note is flat and its yield stands at 0.70%. DJ30 -14.36 NASDAQ +6.74 SP500 -2.62 NASDAQ Adv/Vol/Dec 1489/948 mln/1084 NYSE Adv/Vol/Dec 1419/465 mln/1533

1:00 pm : Listless, low volume trade has left the broader market to move in lackluster fashion. The Nasdaq is up with a solid gain, though.

Stocks put together a rather solid start as early market participants reacted to an upturn in the euro and British pound, which gained after details of the revised United Kingdom budget plan were released. Fitch called Britain's budget is strong statement of intent to accelerate the path of debt reduction after they had stated weeks ago that more had to be done in regard to debt reduction in the UK.

Despite the early move higher, stocks turned lower in the minutes that preceded the release of the latest existing home sales figures. The report showed that existing home sales for May made a surprise 2.2% monthly drop.

Homebuilders and home improvement retailers have been pressured since the report's release. They are down 1.1% and 1.4%, respectively.

Energy stocks are in some of the worst shape. All 39 members of the sector are in the red, culminating in a 1.2% loss for the sector.

In contrast, tech stocks have displayed strength for the entire session. Though the sector has drifted down to a 0.6% gain after it had been up more than 1% in the early going, it has steadily outperformed the broader market today. Moreover, strength among tech stocks has helped prop up the Nasdaq.

While tech has been a source of support for the Nasdaq, the broader market hasn't followed the sector's lead. In turn, overall trade remains rather uninspiring.

The uninspiring trade has been coupled with underwhelming participation. So far, only a bit more than 400 million shares have exchanged hands on the NYSE this session. Average volume on the NYSE for the past 50 sessions stands above 1.4 billion shares. DJ30 +14.58 NASDAQ +12.80 SP500 +0.22 NASDAQ Adv/Vol/Dec 1502/890 mln/1057 NYSE Adv/Vol/Dec 1479/427 mln/1464

12:30 pm : The stock market continues to chop along listlessly. The action has made for rather unexciting trade.

In contrast, the Nasdaq continues to trade with strength. It has outperformed its counterparts for the entire session. Even during a midmorning pullback that saw the Dow and S&P 500 fall to a loss, the Nasdaq managed to remain out of negative territory. Tech stocks, especially large-cap tech issues, have been a key source of strength for the Nasdaq. DJ30 +8.38 NASDAQ +13.44 SP500 -0.18 NASDAQ Adv/Vol/Dec 1559/815 mln/970 NYSE Adv/Vol/Dec 1473/392 mln/1450

12:00 pm : The stock market recently made a push into positive territory, but the move came without any kind of climb in volume. In fact, trading volume on the NYSE has gradually waned since the open.

Underwhelming trading volume has become a bit of a new theme in recent sessions. For example, average trading volume on the NYSE for the past 10 sessions been below 1.2 billion shares, but average volume on the NYSE for the past 50 sessions stands above 1.4 billion shares. The loss of share volume in recent sessions comes as many trading desks become more thinly staffed as the summer vacation season gets into full swing. DJ30 +11.79 NASDAQ +13.44 SP500 +0.49 NASDAQ Adv/Vol/Dec 1567/740 mln/932 NYSE Adv/Vol/Dec 1485/355 mln/1430

11:30 am : The S&P 500 has struggled to get back into positive territory. In turn, it continues to chop along just below the neutral line.

Meanwhile, crude oil prices have made a move into higher ground. The commodity was recently quoted at $78 per barrel, up 0.2%. Oil's push into positive territory hasn't done anything to lift energy stocks, though; the sector is still down 0.9%, near its session low. DJ30 +6.65 NASDAQ +11.93 SP500 -0.46 NASDAQ Adv/Vol/Dec 1509/625 mln/949 NYSE Adv/Vol/Dec 1414/305 mln/1457

11:00 am : The stock market has made its way back to the neutral line after it had been down with a modest loss. Large-cap tech stocks continue to provide support. Their strength has the tech sector up 0.7%, which is below the sector's session high, but still well ahead of the broader market.

Energy stocks are under a stiff bout of pressure, however. The sector is down 0.9%, which makes it the worst performing sector in the S&P 500. While all 39 members of the sector are in the red, oil and gas equipment plays (-1.5%), drillers (-1.3%), and explorers (-1.3%) are under the most pressure. DJ30 +8.08 NASDAQ +12.79 SP500 -0.42 NASDAQ Adv/Vol/Dec 1512/512 mln/905 NYSE Adv/Vol/Dec 1394/248 mln/1436

10:30 am : The US Dollar Index moved back into positive territory in recent trade, adding selling pressure on the commodity complex.

July crude oil has traded in the red for the vast majority of today's session. Crude moved below the unchanged line due to the recent strength in the dollar index and is currently 0.6% lower at $77.35 per barrel.

July natural gas has been in negative territory for the last four and a half hours and in recent action pushed to new session lows of $4.74 per MMBtu. Currently, natural gas is just above that low at $4.76 per MMBtu, down 2.4%.

Precious metals were trading lower in early morning hours, but are modestly higher in current activity. Gold is now just above the unchanged line at $1241.40 per ounce, while July silver is 0.6% higher at $18.92 per ounce. DJ30 -4.46 NASDAQ +6.36 SP500 -1.64 NASDAQ Adv/Vol/Dec 1381/380.1 mln/976 NYSE Adv/Vol/Dec 1261/186.2 mln/1505

10:00 am : Stocks have made a sharp pullback in the past few minutes. The move has put the Dow and S&P 500 back at the neutral line.

Existing home sales for May decreased 2.2% month-over-month to an annualized rate of 5.66 million units, which is less than the expected rate of 6.12 million units per year.

The House Price Index for April was also just released. It showed a 0.8% increase from the prior month. A 0.3% monthly increase had been expected.

Since the release of the data, shares of homebuilders have fallen to a 0.1% loss and home improvement retailers are down 0.7%. Shares of homebuilders had been up solidly ahead of the report, while home improvement retailers had been down fractionally. DJ30 +7.78 NASDAQ +9.60 SP500 -0.22 NASDAQ Adv/Vol/Dec 1491/228 mln/766 NYSE Adv/Vol/Dec 1454/112 mln/1244

09:45 am : Both the S&P 500 and the Dow are up modestly this morning, but the Nasdaq has managed to make its way markedly higher. The Nasdaq's outsized advance comes as tech stocks jump out to a 1.0% gain.

The tech sector is currently led by the likes of large-cap plays like Apple (AAPL 274.40, +4.23) and Microsoft (MSFT 26.39, +0.44). However, biotech plays like Teva Pharmaceutical (TEVA 52.70, -0.06) are under a bit of pressure this morning. DJ30 +41.64 NASDAQ +24.06 SP500 +4.62 NASDAQ Adv/Vol/Dec 1762/130 mln/461 NYSE Adv/Vol/Dec 1885/72 mln/752

09:15 am : S&P futures vs fair value: +0.30. Nasdaq futures vs fair value: +7.00. A flat start to trade appears to be in order. That may not make for an exciting open, but it would be an improvement from the relatively weak tone that was exhibited earlier. The upturn by stock futures comes as the euro works its way up from its morning low, where it was down 0.5%, to trade with a loss of less than 0.2% against the greenback. Europe's major bourses have also improved their position, but they also remain in the red. There hasn't been much in the way of news items to guide market participants ahead of the open. However, the latest monthly existing home sales figures will be released shortly after the open (10:00 AM ET). Results from an auction of 2-year Treasury Notes are due this afternoon (1:00 PM ET).

09:00 am : S&P futures vs fair value: +1.40. Nasdaq futures vs fair value: +6.80. Stock futures have improved their position so that a generally flat start to Tuesday's trade looks to be in order. Meanwhile, the dollar has given up its gain against competing currencies so that it is now flat and the euro has worked its way up from its low, but it is still in negative territory with a 0.2% loss. Commodities have extended their pullback from prior session so that the CRB Commodity Index is down 0.3%. Natural gas prices are under some of the most pressure - the commodity was last quoted with a 1.6% loss at $4.80 per MMBtu. Oil prices are down almost 0.4% to $77.55 per barrel. As for precious metals, gold prices are down 0.6% to $1232 per ounce. Silver prices are down fractionally to $18.80 per ounce.

08:30 am : S&P futures vs fair value: -0.80. Nasdaq futures vs fair value: +2.50. Index futures for the S&P 500 are up from their morning lows, but they continue to trade with relative weakness. As for overseas action, Europe's major bourses had traded with strength in the prior session, but they have given up a chunk of those gains in the latest round of trade. More specifically, Germany's DAX advanced 1.2% on Monday, but it is down 0.6% this session. Recent weakness has been rather broad based, but banking issues Deutsche Bank (DB) and Commerzbank have been heavy drags on trade. Their weakness follows a credit rating downgrade of BNP Paribas by Fitch. BNP Paribas is a primary source of weakness on France's CAC, which is currently down 1.1% after it had advanced 1.3% in the prior session. Prior to its slide this session, the CAC had closed higher for nine straight sessions. Banking issues are also weak in Britain, where shares of HSBC (HBC) and Barclays (BCS) have dragged down the FTSE by 1.3% after the index had advanced 0.9% in the prior session. Though bank stocks are broadly weak, embattled BP Plc (BP) is also a key source of weakness as it falls back under the control of sellers. In Asia, Japan's Nikkei fell to a 1.2% loss. Financial outfit Fanuc LTD was a primary drag on trade, but oil and gas plays saw some of the worst selling as they fell 2.3%. In Hong Kong, the Hang Seng shed 0.5% after it had advanced more than 3% in the prior session. Its pullback was led by HSBC. Industrial & Commercial Bank was also weak. Mainland China's Shanghai Composite managed to muster a 0.1% gain. China Petroleum (SNP) was a primary leader, but PetroChina (PTR) was a laggard. China's yuan climbed 0.2% against the dollar after it gave up 0.4% on Monday. The move on Monday followed a decision by China's central bank to allow the currency to move more freely - a decision that initially spurred strong buying.

08:00 am : S&P futures vs fair value: -2.40. Nasdaq futures vs fair value: +0.30. Stocks gave up a gain of more than 1% in the prir session to log a loss. Some of that selling has carried over into premarket trade this morning, such that index futures point to a lower start for the session. A marked move lower by the euro, currently down 0.4%, has further imbued early trade with weakness, while losses among Europe's major bourses have helped perpetuate an air of pessimism. Other than a quarterly earnings miss from Walgreen (WAG), corporate news flow is slow. A handful of companies, including Adobe Systems (ADBE), Jabil Circuit (JBL), and Red Hat (RHT), will release quarterly results after the close. Existing home sales figures for May will be released at 10:00 AM ET this morning. Results from an auction of 2-year Treasury Notes are due at 1:00 PM ET this afternoon. The Federal Open Market Committee begins its two-day meeting, but an official policy statement will not be released until Wednesday afternoon.

07:11 am : S&P futures vs fair value: -3.00. Nasdaq futures vs fair value: flat.

07:11 am : Nikkei...10112.89...-125.10...-1.20%. Hang Seng...20819.08...-93.10...-0.50%.

07:11 am : FTSE...5222.90...-76.30...-1.40%. DAX...6238.68...-54.60...-0.90%.

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