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 Post subject: June 24th Thursday 2010 Emini TF points (No Trades Today)
PostPosted: Sat Jun 26, 2010 8:49 am 
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Joined: Sat Jan 10, 2009 2:06 pm
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Trade Journal By M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)

Trade journals are crucial in preventing us traders from becoming complacent or content with our trading plan or the markets because without having the ability to review archives of past trading days in a forever changing market...we won't know it's time to adapt when change occurs in the markets because broker statements alone doesn't help us keep that edge in comparison to a trade journal. In addition, 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=552

Quote:
Today's results are 0 win : 0 loss (see above #FuturesTrades log). No trades today because it was a Canadian Holiday. Simply, I did fun family events today (e.g. clown show).

Trading Tip: Trading is very stressful on the mind, body and soul. Therefore, it's important to have yearly complete physicals, eat healthy and exercise reguraly.


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 (no trades): +0.00 points or $0 dollars in the ICE Russell 2000 Emini TF ($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


http://www.youtube.com/v/pmhIk1nVSgk

Stocks Slump On Economic Woes
By Alexandra Twin, senior writer
June 24, 2010: 6:03 PM ET

NEW YORK (CNNMoney.com) -- Stocks slumped Thursday, with the Dow losing 145 points, as investors mulled mixed reports on the economy and a sell-off in bank shares as Wall Street reform talk move toward a close.

Dow Jones industrial average (INDU) lost around 145 points, or 1.4%. The S&P 500 (SPX) lost 18 points or 1.7% and the Nasdaq (COMP) composite lost 37 points or 1.6%.

Stocks fell after reports showed a still-tough environment for the manufacturing and labor markets and one day after the Federal Reserve sounded a cautious tone on the economy.

The Fed issued a cautious growth outlook Wednesday on the back of the day's weak May new home sales report. That left stocks mixed to lower, but the tone turned even more negative overnight, with markets in Europe falling and U.S. stocks opening weaker.

"The Fed downgraded their economic outlook, which is not good for the markets," said David Chalupnik, head of equities at First American Funds. "It tells us that the economy is losing steam and earnings are at risk."

He said that markets are likely to be particularly volatile in July, as the second-quarter reporting period heats up, with many forecasts still too high relative to the current economic outlook.

Economy: The number of Americans filing new claims for unemployment fell to 457,000 last week from a revised 472,000 in the previous week, the Labor Department reported. Economists surveyed by Briefing.com expected 457,000.

Continuing claims, a measure of Americans who have been receiving benefits for a week or more, fell to 4,548,000 from 4,571,000. Economists expected 4,580,000 continuing claims, on average.

Durable goods orders fell 1.1% in May, the Commerce Department reported. That was better than the 1.3% drop that was expected. Orders rose 3% in April.

Orders excluding transportation rose 0.9% in May versus forecasts for a rise of 1.3%. Orders ex-transportation fell 0.8% in the previous month.

On the upside, mortgage rates fell this week to the lowest level on record, a boon to individuals looking to buy a home or refinance. Freddie Mac said that the average rate for 30-year fixed loans fell to 4.69% from 4.75%.

Federal Reserve: On Wednesday, the central bank policymakers opted to hold interest rates steady at historic lows near zero, as expected.

However, in the statement the bankers said that while the economy is recovering, growth is likely to stay moderate for a while. Additionally, they were concerned about the weakness in the housing market and the "less supportive" financial conditions as a result of the European debt crisis.
Thousands flock for iPhone 4 debut

Companies: Thousands of Apple fans lined up Thursday morning to buy the hugely anticipated iPhone 4, which is being released at Apple stores and other retailers Thursday including Wal-Mart Stores (WMT, Fortune 500) and Best Buy (BBY, Fortune 500).

Google (GOOG, Fortune 500) won a crucial copyright infringement battle with Viacom (VIA) Wednesday when a federal court ruled Google's YouTube isn't liable for its users' copyright violations. Viacom, which has been seeking more than $1 billion in damages, says it will appeal the ruling.

Oracle (ORCL, Fortune 500) shares dipped ahead of its quarterly profit report, due out after the close. The software maker is expected to earn 54 cents per share, up 17% from a year earlier, and revenue of $9.5 billion, up 38% from the prior year.

Declines were broad based, with 28 of 30 Dow issues falling. The biggest losers were Chevron (CVX, Fortune 500), Exxon Mobil (XOM, Fortune 500), Walt Disney (DIS, Fortune 500), IBM (IBM, Fortune 500), Hewlett-Packard (HPQ, Fortune 500) and 3M (MMM, Fortune 500).

Financial shares tumbled as Washington lawmakers moved closer to reaching a compromise on two different versions of the Wall Street reform bill. The KBW Bank (BKX) sector index fell 2.2%.

Market breadth was negative and volume was pretty modest. On the New York Stock Exchange, losers beat winners three to one on volume of 1.26 billion shares. On the Nasdaq, decliners topped advancers three to one on volume of 2.06 billion shares.
0:00 /3:22Sneak peek at Microsoft's iPhone rival

Currency: The euro was little changed versus the dollar, erasing earlier gains but remaining well above the four-year low of $1.188 hit last week. The dollar was barely changed versus the yen. The direction of the euro and the state of global debt are expected to be in focus at this weekend's G-20 meeting.

World markets: European markets slipped. Britain's FTSE 100 lost 1.5%, Germany's DAX gave back 1.4% and France's CAC 40 fell 2.4%.

Asian markets were mostly lower. Japan's Nikkei ended little changed, Hong Kong's Hang Seng fell 0.6% and China's Shanghai Composite lost 0.1%.

Commodities: U.S. light crude oil for August delivery rose 22 cents to $76.51 a barrel on the New York Mercantile Exchange.

COMEX gold for August delivery gained $10.60 to $1,245.90 an ounce after closing at a record $1,258.30 last Friday.

Bonds: Treasury prices fell, raising the yield on the 10-year note to 3.12% from 3.11% late Wednesday. Treasury prices and yields move in opposite directions.

Image

Yahoo! Finance

4:30 pm : Four straight losses have the stock market down nearly 4% week-to-date. The most recent slide came amid some rather uninspiring data and some mixed earnings reports.

Market participants initially had a somewhat positive reaction to premarket data that showed durable goods orders for May fell 1.1%, which was softer than the expected 1.3% decline, and orders less transportation increased 0.9%, which was a slower clip than the 1.3% increase that had been anticipated.

The durable goods orders figures were released at the same time as the initial jobless claims count for the week ended June 19. The latest lot of claims declined 19,000 week-over-week to 457,000, which was largely in-line with the 460,000 initial claims that had been widely expected. Continuing claims fell 45,000 week-over-week to 4.55 million, which was also on par with what had been expected.

Though the data wasn't inspiring, it didn't disappoint either. In turn, there was a sense of relief among many market participants, given the salience of yesterday's worst new home sales report on record and the disappointing jobless claims report from the prior week. Still, the stock market started the session in the red and quickly fell under a sharp, broad-based selling effort.

Earnings didn't do anything to offer support. Nike (NKE 69.63, -2.89) posted in-line earnings and Bed Bath & Beyond (BBBY 39.12, -2.34) brought in better-than-expected earnings, but that was overshadowed by the company's weak forecast. Best Buy (BBY 35.74, -0.89) treated investors to a 7% increase in its dividend, but that was largely ignored by the broader market. Shares of retailers were dropped for a collective loss of 2.7%.

All 10 major sectors settled in the red after an afternoon attempt to lessen losses failed. Instead, the broader market finished near its session low in its worst performance of the week. Even utilities logged a 0.3% loss after it had spent the first several hours in higher ground.

Volatility spiked as result of the stock market's selloff. That sent the Volatility Index more than 10% higher. It has been nearly three weeks since it moved so sharply.

Despite the increase in volatility and the widespread weakness among stocks, Treasuries were unable to sustain gains. Early support for the benchmark 10-year Note caused its yield to set a new 52-week low near 3.07%, but the Note fell to a fractional loss after a 7-year Note auction produced a bid-to-cover of 3.0 and dollar demand of $90.3 billion.

Currencies oscillated for most of the session before the U.S. dollar made a flat finish. The euro managed to make a modest gain of 0.2% against the greenback after it had been in the red during early action.

Precious metals found support. They had actually been weak in the early going, but were able to attract buyers as the stock market succumbed to broad-based selling. Gold prices closed pit trade at $1245.80 per ounce, up 0.9%, and silver settled at $18.71 per ounce, up 1.3%.

Advancing Sectors: (None)
Declining Sectors: Consumer Discretionary (-2.5%), Materials (-2.4%), Financials (-2.1%), Energy (-2.1%), Tech (-1.8%), Industrials (-1.8%), Telecom (-1.5%), Consumer Staples (-0.9%), Health Care (-0.8%), Utilities (-0.3%) DJ30 -145.64 NASDAQ -36.81 NQ100 -1.6% R2K -1.7% SP400 -1.8% SP500 -18.35 NASDAQ Adv/Vol/Dec 637/2.05 bln/1998 NYSE Adv/Vol/Dec 690/1.26 bln/2336

3:30 pm : Weakness among stocks failed to taint the commodity complex this session. In turn, the CRB Commodity Index closed with a solid 0.7% gain.

Precious metals provided some of the most strength. They had actually been weak in the early going, but were able to attract buyers as the stock market succumbed to broad-based selling. Gold prices closed pit trade at $1245.80 per ounce, up 0.9%, and silver settled at $18.71 per ounce, up 1.3%.

Energy was split, though. Specifically, oil prices managed to muster a 0.1% gain to close at $76.46 per barrel after displaying weakness in the first part of pit trade. Natural gas prices dropped 1.1% to $4.75 per MMBtu after an in-line inventory report pulled the prices down from a modest gain in the early going. DJ30 -127.88 NASDAQ -32.10 SP500 -16.35 NASDAQ Adv/Vol/Dec 758/1.62 bln/1850 NYSE Adv/Vol/Dec 777/840 mln/2222

3:00 pm : THe stock market has rolled over to return to its session low. The backslide has been characterized by broad-based selling, such that seven of the 10 sectors are down by more than 1% -- utilities (+0.2%), consumer staples (-0.7%), and health care (-0.6%) are the only sectors out of that group.

Trading volume hasn't been very impressive this session. Only one hour remains before the close and hardly 700 million shares have exchanged hands on the NYSE. DJ30 -118.13 NASDAQ -29.11 SP500 -14.92 NASDAQ Adv/Vol/Dec 794/1.43 bln/1793 NYSE Adv/Vol/Dec 808/730 mln/2177

2:30 pm : Stocks have backed off of their afternoon highs. In turn, losses are still sizable.

Semiconductor stocks are still down a sharp 1.9%, as measured by the Philadelphia Semiconductor Index. That has dragged the broader tech sector down to a 1.0% loss. Despite such weakness among tech stocks, the tech-rich Nasdaq isn't down quite as much as the broader S&P 500. DJ30 -85.78 NASDAQ -16.19 SP500 -11.14 NASDAQ Adv/Vol/Dec 947/1.31 bln/1636 NYSE Adv/Vol/Dec 976/660 mln/1997

2:00 pm : The stock market has pushed through resistance to register fresh afternoon highs. Though the stock market's loss has moderated, overall weakness remains widespread. As such, utilities continue to represent the only sector in higher ground -- it is now up an impressive 0.9%.

Treasuries have extended their retreat amid the stock market's upturn. The benchmark 10-year Note is now down five ticks and the 30-year Bond is down 24 ticks. DJ30 -37.87 NASDAQ -9.39 SP500 -6.26 NASDAQ Adv/Vol/Dec 1098/1.20 bln/1467 NYSE Adv/Vol/Dec 1158/610 mln/1796

1:30 pm : Treasuries initially showed little reaction to results from an auction of 7-year Notes, but they have pulled back in the past few minutes. The benchmark 10-year Note is now flat so that its yield is back above 3.10% and the 30-year Bond is down 10 ticks so that its yield is down 4.08%.

As for stocks, the S&P 500 has had a difficult time near the 1082 line. On two occasions this afternoon the benchmark index has failed to make its way above that line subsequently chopped lower. DJ30 -82.53 NASDAQ -19.54 SP500 -11.07 NASDAQ Adv/Vol/Dec 903/1.09 bln/1650 NYSE Adv/Vol/Dec 909/554 mln/2031

1:05 pm : Widespread weakness has left the stock market to contend with losses for the fourth straight session. That has won favor for Treasuries and gold, though.

Stocks have been under pressure since the opening bell. Initial losses looked modest as market participants reacted to the latest dose of economic data, which featured a 1.1% decline in durable goods orders for May and a 0.9% increase in orders less transportation. Economists polled by Briefing.com had anticipated a 1.3% decline in total orders and a 1.3% increase in orders less transportation. Meanwhile, initial jobless claims for the week ended June 19 totaled 457,000, down 19,000 week-over-week and on par with the 460,000 initial claims that had been widely expected.

Losses steepened as financial stocks led an early move lower. Sellers intensified their efforts against the sector ahead of the financial regulatory reform bill, which is expected to be finalized by the House today. The broader market has been chopping along with sharp losses ever since.

With a 2.2% loss, retailers are under some of the worst pressure this session. Their weakness comes after Nike (NKE 69.74, -2.78) reported in-line earnings, but Bed Bath & Beyond (BBBY 39.80, -1.66) issued downside guidance that overshadowed an upside earnings surprise for the latest quarter. Even Best Buy (BBY 35.75, -0.88) has fallen after it hiked its dividend by 7%.

Of the major sectors, only utilities are in higher ground. The sector is up 0.4%. Other defensive-oriented sectors like health care (-0.4%) and consumer staples (-0.4%) have managed to limit losses, though.

Traditional safe havens have fared well this session. As such, the benchmark 10-year Treasury Note has been bid up so that its yield set a new 52-week low near 3.07% earlier this session. It has since handed back a few ticks, but it has shown little reaction to results from a 7-year Note auction, which produced a bid-to-cover of 3.0 and dollar demand of $90.3 billion.

Gold has garnered support in afternoon trade. In turn, the precious metal has swung from a loss to a 1.0% gain at $1246 per ounce.

Despite an interest in safety, the dollar has fallen out of favor and the euro has ticked higher so that it now sports a 0.4% gain. Its advance has coincided with a move by the broader market off of its low. DJ30 -65.26 NASDAQ -16.92 SP500 -9.76 NASDAQ Adv/Vol/Dec 934/986 mln/1586 NYSE Adv/Vol/Dec 924/516 mln/2000

12:30 pm : The euro has swung to an impressive 0.5% gain against the greenback. The euro had actually trailed the dollar in the early going.

Stocks have trimmed some of their losses with the euro's improvement. Still, weakness remains widespread as declining issues outnumber advancers by 4-to-1 in the S&P 500 and declining volume outweighs advancing volume by more than 6-to-1 on the NYSE. DJ30 -96.44 NASDAQ -25.88 SP500 -13.11 NASDAQ Adv/Vol/Dec 736/900 mln/1759 NYSE Adv/Vol/Dec 718/465 mln/2205

12:00 pm : Volatility has spiked with this session's slide. Specifically, the Volatility Index is up 10% in its highest single-session percentage climb since June 4, which was the same day the the S&P 500 plummeted more than 3% in its second worst performance of 2010 (the worst performance came when the stock market fell nearly 4% in late May).

Despite heightened volatility and sharp selling, Treasuries have only had limited gains this session. Their limited advance comes as the yield on the benchmark 10-year Note trades at 52-week lows. DJ30 -88.20 NASDAQ -22.85 SP500 -11.66 NASDAQ Adv/Vol/Dec 761/812 mln/1715 NYSE Adv/Vol/Dec 748/420 mln/2156

11:30 am : Stocks are stuck at session lows. Utilities seem to be the only sector that is able to garner any kind of support. In turn, utilities stocks are up a collective 0.3%, while the broader market is down more than 1%.

This session's selloff marks the stock market's fourth consecutive slide. During that time the S&P 500 has given up 3.5%. Still, that stock market had an even worse four-session performance at the beginning of the month, when the stock market fell more than 3% on June 4. DJ30 -104.68 NASDAQ -29.14 SP500 -13.93 NASDAQ Adv/Vol/Dec 614/694 mln/1830 NYSE Adv/Vol/Dec 593/361 mln/2282

11:00 am : Stocks have chopped their way to fresh session lows amid deepening weakness.

Losses are worst among consumer discretionary stocks, which are down 2.1% as a group. Retailers, in particular, are in rough shape as they plummet to a 2.7% loss. Department stores J.C. Penney (JCP 23.19, -1.47), Macy's (M 18.98, -1.11), and Nordstrom (JWN 35.44, -1.40) are in some of the worst shape. Bed Bath & Beyond (BBBY 39.77, -1.69) is also under sharp pressure after the company issued downside guidance that overshadowed a positive earnings surprise for the latest quarter. Even upgrades by analysts at Oppenheimer on names like Aeropostale (ARO 29.39, -0.49), J. Crew Group (JCG 28.57, -1.69), and TJX Co's (TJX 44.09, -0.62) have failed to provide the space with support. DJ30 -113.37 NASDAQ -30.24 SP500 -14.10 NASDAQ Adv/Vol/Dec 549/580 mln/1869 NYSE Adv/Vol/Dec 535/300 mln/2299

10:35 am : Natural gas prices are now flat at $4.80 per MMBtu after whipping around after inventory data for the week ended June 18 showed a build of 81 bcf - a build of 80 bcf had been expected. Natural gas prices had been trading around $4.83 per MMBtu in the few minutes ahead of the report.

Oil prices are still down. The commodity had been as low as $75.55 per barrel, but it is now at $76.10 per barrel with a 0.3% loss.

Precious metals are up modestly amid the stock market's morning slide. Gold prices were last quoted at $1237 per ounce with a 0.2% gain and silver prices were last seen at $18.49 per ounce with a 0.1% gain. DJ30 -71.12 NASDAQ -19.36 SP500 -8.76 NASDAQ Adv/Vol/Dec 645/421 mln/1707 NYSE Adv/Vol/Dec 731/214 mln/2032

10:00 am : Weakness among stocks has intensified, but that has won more support for Treasuries. In turn, the benchmark 10-year Note is now up a dozen ticks so that its yield is down to 3.07%, which is a new 52-week low on both an intraday and closing basis. Treasuries could see some increased volatility with the 1:00 PM ET release of results from an auction of 7-year Notes.

Advancing Sectors: Utilities (+0.5%)
Declining Sectors: Financials (-1.8%), Consumer Discretionary (-1.8%), Materials (-1.3%), Industrials (-1.1%), Tech (-1.1%), Energy (-1.0%), Health Care (-0.6%), Telecom (-0.5%), Consumer Staples (-0.3%) DJ30 -93.34 NASDAQ -24.93 SP500 -11.07 NASDAQ Adv/Vol/Dec 430/204 mln/1768 NYSE Adv/Vol/Dec 456/115 mln/2243

09:45 am : Financial stocks have fallen under a sharp fit selling in the first few minutes of trade. Specifically, the sector is down 1.2% as diversified banks drop 2.2% and diversified financial services stocks fall 1.8%. Their weakness precedes what is expected to be a finalization of financial regulatory reform by the House.

Weakness isn't at all limited to the financial sector. Instead, almost every other major sector is also in the red. Of them, only utilities are in higher ground. The sector is up 0.4% amid support from electric utilities like Duke Energy (DUK 16.31, +0.09) and Southern (SO 33.55, +0.21). DJ30 -59.25 NASDAQ -13.89 SP500 -7.21 NASDAQ Adv/Vol/Dec 537/122 mln/1563 NYSE Adv/Vol/Dec 546/78 mln/2078

09:15 am : S&P futures vs fair value: -6.20. Nasdaq futures vs fair value: -11.00. An in-line initial jobless claims report and a softer-than-expected decline in total durable goods orders for May provided premarket participants with a bit of relief that the latest dose of data wasn't as bleak as the new home sales report that was released yesterday. In turn, stock futures improve their position, though a moderate loss to the start of trade still looks in order. Quarterly earnings results have been a bit mixed as Darden Restaurants (DRI) and ConAgra (CAG) missed consensus earnings estimates, but Nike (NKE) reported in-line earnings. Bed Bath & Beyond (BBBY) reported an upside surprise, but it also issued downside guidance. Another round of Treasury auction results is scheduled for 1:00 PM ET. This time the focus will be on demand for 7-year Notes.

09:05 am : S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -11.50. Index futures for the S&P 500 remain up from their lows, but an opening loss still looks probable. The mood among traders in Europe also remains generally downbeat, though improved from earlier levels. As such, Germany's DAX is now down a modest 0.3% as its declining issues outnumber its advancers by 3-to-1. Adidas is a primary source of weakness. Commerzbank is weak for the third straight session, losing more than 4% during that time, to move back below its 50-day moving average. France Telecom was recently the only name in France's 40-member CAC, which is down 0.8%, to stage a gain. BNP Paribas is having the worst impact on trade, given its market weight and its current 2.4% loss. In Britain, the FTSE is off by 0.4%. HSBC (HBC) is a primary source of weakness at the moment. Rio Tinto (RTP) is also under sharp pressure even though Australia's Prime Minister Rudd, who was supportive of a mining tax that had been expected to affect the likes of RTP, will be replaced. Vodafone is currently atop the list of about 30 stocks that have staged an advance in the 102-member index. In terms of economic data, eurozone Industrial Orders for April increased 0.9% month-over-month, but that was short of the 1.5% increase that had been widely expected. In Asia, Mainland China's Shanghai Composite shed 0.1%. China Life Insurance was a primary source of weakness, but China Pacific Insurance was a source of support. Banking issues also provided a boon. In Hong Kong, the Hang Seng gave up 0.6%. China Life Insurance was also a source of weakness there, but HSBC had the worst effect on trade. Japan's Nikkei managed to muster a 0.1% gain even though its declining issues had a slight edge over advancers. Fanuc LTD was a primary leader, while Fast Retailing was a key laggard.

08:35 am : S&P futures vs fair value: -6.70. Nasdaq futures vs fair value: -12.00. Stock futures have trimmed some of their losses in the few minutes that have followed the latest dose of data. Durable goods orders for May fell 1.1%, which is softer than the 1.3% decline that economists polled by Briefing.com had anticipated on average. Excluding transportation, durable goods orders increased 0.9%, which is weaker than the 1.3% increase that many had come to expect. Figures for the prior month were revised upward to reflect a 3.0% increase in total durable goods orders and a 0.8% decline in orders less transportation. Initial jobless claims for the week ended June 19 totaled 457,000, which is on par with the 460,000 initial claims that had been expected, on average, by economists polled by Briefing.com. The latest initial claims count was down 19,000 week-over-week. Continuing claims came in at 4.55 million, which is down 45,000 from the prior week and in stride with the consensus forecast.

08:00 am : S&P futures vs fair value: -8.50. Nasdaq futures vs fair value: -17.30. More selling among overseas markets and a pullback by the euro have weighed on domestic stock futures, such that a markedly lower start to trade looks to be in order. The latest batch of earnings results haven't done much to prop up the tone of premarket trade. Nike (NKE) reported in-line earnings, but saw a 7% year-over-year rise in futures orders. Bed Bath & Beyond (BBBY) brought in better-than-expected earnings, but issued downside guidance. Homebuilder Lennar (LEN) posted an upside surprise of its own, but it stated that new orders are down 10% year-over-year. That statement follows a housing report yesterday that showed new home sales fell to their worst rate on record. In terms of the latest data, durable goods orders for May are due at the bottom of the hour, as are the latest lot of weekly jobless claims. Natural gas inventory data will be released at 10:30 AM ET. Results from an auction of 7-year Treasury Notes are due at 1:00 PM ET.

06:40 am : S&P futures vs fair value: -7.50. Nasdaq futures vs fair value: -15.00.

06:39 am : Nikkei...9928.34...+4.60...+0.10%. Hang Seng...20733.49...-123.10...-0.60%.

06:39 am : FTSE...5145.13...-33.40...-0.60%. DAX...6172.20...-32.40...-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
Business Hours: 8am - 5pm est (Mon - Fri)
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