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 Post subject: August 4th Wednesday 2010 Emini TF (No Trades)
PostPosted: Wed Aug 04, 2010 9:37 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=77&t=589

Quote:
Today's results are 0 win : 0 loss (see above #FuturesTrades log). I took another personal day off to re-energize and spend time with the family by going to the bee museum, canoeing and just being lazy. However, I did visited the chat room to express my market analysis concerning the market in a range and that I expect soon (this week) a trend day or strong directional price movement because of the contracting volatility the recent trading days.


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=120&t=731

Trade Performance for Today: +0.00 points or $0 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures because of a personal day away from the markets.

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.

U.S. Stocks Gain as Services, Jobs Data Boost Optimism: Video
Aug. 4 (Bloomberg) -- Bloomberg's Courtney Donohoe reports on the performance of the U.S. equity market today. U.S. stocks rose, sending the Standard & Poor's 500 Index to its highest close in more than two months, as faster-than-estimated growth in service industries and jobs quelled concern the economy is slowing.

Stocks Edge Up As Jobs Picture Comes Into Focus
By Ben Rooney, staff reporter
August 4, 2010: 5:22 PM ET

NEW YORK (CNNMoney.com) -- Stocks closed higher Wednesday, after trading in a narrow range for most of the day, as investors welcomed improved data on private sector hiring and the services industry.

The Dow Jones industrial average (INDU) rose 44 points, or 0.4%. The S&P 500 (SPX) index gained nearly 7 points, or 0.6%, and the Nasdaq (COMP) composite added 20 points, or 0.9%.

Stocks were supported by a larger-than-expected gain in private sector payrolls, which tempered concerns about the job market ahead of a key report due Friday from the Labor Department. In addition, an industry report showed the services sector of the economy grew in July for the seventh month in a row.

"Activity and employment may only be expanding at a modest pace," said Paul Ashworth, senior economist at Capital Economics in Toronto. "But at least today's data suggest that pace is being maintained."

After a spate of upbeat corporate earnings boosted the market last month, investors have become increasingly focused on the outlook for economic growth. In particular, traders are worried that the weak job market will undermine consumer confidence and hurt the already faltering recovery.

"The numbers were a bit better but they're still pointing to a very blah recovery," said Peter Boockvar, chief market strategist with Miller Taback & Co. "The economy is not falling off a cliff, but growth is going to be mediocre."

Investors will get another read on the job market Thursday when the government reports weekly initial claims data before the market opens. The retail sector will also be in focus when the nation's top chain stores report same-store-sales figures for July.

Stocks closed lower Tuesday, trimming some of the previous session's big gains, as disappointing reports on housing and consumer spending raised concerns about the strength of the economic recovery.

Video - Gross: Stocks a safe bet

Economy: Payroll processor ADP said private-sector employers added 42,000 jobs to their payrolls in June, following an upwardly revised 19,000 increase in June. Economists surveyed by Briefing.com expected employers to add 25,000 jobs last month.

Separately, outplacement firm Challenger, Gray & Christmas said planned job cuts rose for a third straight month in July, fueled by continued weakness in the government and non-profit sector.

The reports came as investors awaited Friday's monthly jobs report from the Labor Department, one of the most closely-watched indicators on Wall Street. Economists believe U.S. employers cut payrolls for the second month in a row in July, and that the unemployment rate ticked up slightly.

Meanwhile, the Institute for Supply Management's services sector index rose slightly in July, marking the seventh consecutive month of growth in the sector.

The ISM services index increased to 54.3 last month from 53.8 in June. A reading above 50 indicates growth. Economists had expected the index to fall to 53.

While the rebound in the ISM was modest, the gain was encouraging for investors worried that the economy could slip back into recession.

"The fact that there was any rebound at all is important because it suggests the U.S. economy isn't spiraling back into the abyss after all," Capital Economics' Ashworth said in a research report.

* The yen also rises

Companies: Intel said it has agreed to settle antitrust charges levied by the Federal Trade Commission without paying a fine, though the chipmaker did agree to refrain from some activities designed to force its competition out of the market.

Intel was accused of refusing to sell chips to some computer manufacturers that also bought chips from rival companies and paying other manufacturers rebates in exchange for promises not to use microchips manufactured by Intel's competitors.

Shares of the Dow component were unchanged in afternoon trading.

Shares of Priceline (PCLN) were up more than 20% after the online travel company reported second-quarter results that easily beat analysts' expectations.

Goldman Sachs (GS, Fortune 500) gained 2% amid talk that the firm could spin off part of its proprietary trading business to get around the Volcker rule. Under the recently enacted Wall Street reform law, the Volcker rule will eventually limit the amount of money a federally insured bank can invest in risky ventures like private equity or hedge funds.

BP (BP) said Wednesday that the Gulf of Mexico Macondo well "appears to have reached a static condition -- a significant milestone," as a result of a procedure carried out Tuesday. Shares eased 1.5%.

Barnes & Noble (BKS, Fortune 500) put itself up for sale late Tuesday. The board of directors believes the bookseller's shares are "significantly undervalued." The company has hired financial adviser Lazard to explore "strategic alternatives," which may include selling the company. Shares rose 20%.

* The end of volatility? Not by a long shot

Earnings: Toyota Motor (TM) said that it swung to a profit in its latest quarter and boosted its full-year sales outlook. Shares rose more than 1%.

Time Warner (TWX, Fortune 500), the parent company of CNNMoney.com and Fortune, posted earnings of 49 cents per share on revenue of $6.4 billion, topping the consensus forecasts of analysts polled by Thomson Reuters. The media company also raised its outlook for earnings growth for all of 2010. Shares rose 2%.

World markets: European markets ended mixed. The CAC 40 in Paris and Germany's DAX both closed about 3% higher. Britain's FTSE 100 fell 0.2%.

In Asia, Japan's Nikkei sank 2.1%, while the Hang Seng in Hong Kong and the Shanghai Composite rose more than 0.4%.

Currencies and commodities: The dollar rose versus the euro and the British pound. It recovered against the Japanese yen after falling near a 15-year low earlier.

U.S. light crude oil for September delivery fell 11 cents to $82.44 a barrel.

COMEX gold's December contract rose $15.50 to $1,195.90 per ounce.

Bonds: Treasury prices eased, pushing the yield on the 10-year note up to 2.95% from 2.91% late Tuesday. Bond prices and yields move in opposite directions.

Image

Yahoo! Finance

4:30 pm : A better-than-expected ADP Employment reading and a stronger-than-expected ISM Service Index gave stocks a lift, but caution ahead of other pivotal jobs data limited gains until an afternoon bid lifted the major averages out of their trading ranges to a solid finish.

The July ADP Employment Change showed that 42,000 jobs were added to private payrolls last month. Given that the increase was greater than the 25,000 additions that had been widely expected, some hope that the official nonfarm payrolls figures will be stronger than currently forecast when they are released Friday morning. Before that, participants must digest the latest weekly initial jobless claims count, which is due tomorrow morning.

While the ADP data gave stocks a positive start this session, gains grew when the July ISM Service Index came in at 54.3, which bested the 53.0 that had been expected.

However, gains were dashed when stocks ran into resistance near the stock market's weekly high and rumors surfaced that China's regulators have requested stress tests of their banks. The alleged tests would consider a 60% decline in residential property prices. That prompted some concern about how the possibility of plummeting property prices in China would hurt the global recovery.

Though there was no real leadership to speak of, stocks fought off efforts to take them into the red. They then chopped along with modest gains before gradually climbing into the close.

Retailers outperformed with a 2.2% gain. The space was spurred higher by better-than-expected earnings and upside guidance Priceline (PCLN 281.30, +50.63) and news that Barnes & Noble (BKS 15.31, +2.47) will pursue strategic alternatives. The near 20% surge in shares of BKS helped lead both the Russell 2000 and the S&P 400 to a 1.1% gain.

For the most part, other corporate announcements had little influence on overall trade, but Goldman Sachs (GS 156.41, +3.22) garnered support for itself amid word from CNBC that the firm might spin out its prop trading arm. Some see the move as one that would promote earnings growth. As for the broader financial sector, it lagged for most of the session and finished just 0.3% higher.

Defensive-oriented plays in the utilities and telecom sectors were also laggards. Utilities eked out a 0.1% gain, while telecom fell 0.1% to finish as the only major sector to log a loss.

Lacking participation kept trading volume on the NYSE below 1 billion shares. That's well below the 50-day average of 1.28 billion shares that are usually exchanged on the Big Board.

Advancing Sectors: Consumer Discretionary (+1.5%), Health Care (+0.9%), Materials (+0.8%), Industrials (+0.7%), Tech (+0.6%), Energy (+0.5%), Consumer Staples (+0.3%), Utilities (+0.1%)
Declining Sectors: Telecom (-0.1%) DJ30 +44.05 NASDAQ +20.05 NQ100 +0.9% R2K +1.1% SP400 +1.1% SP500 +6.78 NASDAQ Adv/Vol/Dec 1744/2.04 bln/868 NYSE Adv/Vol/Dec 2248/975 mln/777

3:30 pm : Oil prices traded with little direction this session, even though oil inventories for the week ended July 30 had a larger-than-expected draw of 2.78 million barrels. The commodity traded as low as $81.62 per barrel and as high as $82.97 per barrel, a new multimonth high, but it inevitably settled pit trade with a 0.1% loss at $82.47 per barrel.

Natural gas prices came clawing back from back-to-back losses. Specifically, the commodity closed with a 2.2% gain at $4.74 per MMBtu after it fell 1.0% on Tuesday and 4.1% on Monday.

Precious metals prices diverged as gold gained 1.3% to settle at $1203 per ounce in its first close above $1200 in a week and silver prices sank 0.8% to $18.28 per ounce. DJ30 +57.75 NASDAQ +20.33 SP500 +7.89 NASDAQ Adv/Vol/Dec 1737/1.60 bln/884 NYSE Adv/Vol/Dec 2227/710 mln/781

3:00 pm : Stocks have made it back to their best levels of the afternoon. However, they are still a few points shy of the session highs that were set in the early going, when a better-than-expected ISM Service Index was released.

With just an hour left in the session market participants are preparing for the latest round of earnings announcements -- a full list of companies scheduled to report is available from Briefing.com's free Investor site. Also on the radar is tomorrow's weekly initial jobless claims report, which will add to the build up around the official nonfarm payrolls report on Friday. DJ30 +38.45 NASDAQ +14.77 SP500 +5.22 NASDAQ Adv/Vol/Dec 1653/1.50 bln/939 NYSE Adv/Vol/Dec 2073/625 mln/912

2:30 pm : Domestic stocks continue to trade with modest gains. Many overseas markets have settled with mixed results. In turn the Dow Jones World Index is down 0.1% at the moment.

In Asia, both China's Shanghai Composite and Hong Kong's Hang Seng advanced 0.4%, but Japan's Nikkei fell 2.1%. In Europe, both Germany's DAX and France's CAC managed to gain 0.4%, but Britain's FTSE fell 0.2%. DJ30 +31.49 NASDAQ +13.29 SP500 +4.00 NASDAQ Adv/Vol/Dec 1630/1.39 bln/946 NYSE Adv/Vol/Dec 1994/570 mln/978

2:00 pm : Stocks continue to chop along with varied gains, but the generally listless action has made for rather dull theatre.

Participation is still unimpressive. To be more specific, hardly a half billion shares have exchanged hands on the NYSE, so far, this session and only two hours of trade remain. DJ30 +22.29 NASDAQ +10.70 SP500 +2.91 NASDAQ Adv/Vol/Dec 1597/1.29 bln/977 NYSE Adv/Vol/Dec 1925/524 mln/1027

1:30 pm : Stocks are descending from their afternoon highs. The downturn isn't in response to any sort of negative news item, but more from a loss of momentum amid a lack of leadership.

The dollar continues to sport a strong gain, however. In turn, the Dollar Index is at a fresh session high with a 0.6% gain. Any advance would make for its first positive performance of the past six sessions. DJ30 +20.70 NASDAQ +10.08 SP500 +2.83 NASDAQ Adv/Vol/Dec 1588/1.20 bln/973 NYSE Adv/Vol/Dec 1902/480 mln/1050

1:00 pm : Stocks have been gradually winning back gains after a rumor about bank stress tests caused the major indices to surrender early gains that were spurred by a better-than-expected ADP Employment Report and a stronger-than-expected ISM Service Index.

The latest ADP Employment Change showed that 42,000 jobs were added to private payrolls in July. Since that exceeded what had been widely expected, many are curious if the official nonfarm payrolls reading on Friday will feature a positive surprise.

The early mood among market participants was also helped by a better-than-expected July ISM Service Index of 54.3.

However, stocks couldn't quite extend their advance past the weekly highs that were set during Monday's 2% spike. That combined with a negative, knee-jerk response to reports that China's regulators have requested their banks conduct stress tests to account for a 60% decline in residential property prices. Though official statements have yet to be made, the stock market's negative response to the rumor reflected concerns that plummeting property prices in China would hurt the Chinese economy and, in turn, the global recovery.

Stocks have since recouped some of their gains, but overall strength remains modest given the lack of any concerted form of leadership.

Retailers have been strong, though. The group is up 2.2% following better-than-expected earnings and upside guidance Priceline (PCLN 283.17, +52.50) and news that Barnes & Noble (BKS 15.66, +2.82) has opted to pursue strategic alternatives.

Financials have been mired at the neutral line for most of the session, but shares of Goldman Sachs (GS 155.79, +2.60) recently popped higher following reports from CNBC that the company is considering spinning out its prop trading arm, or a significant portion of it. Highly regarded analyst Dick Bove stated on CNBC that such a move would enhance the firm's earnings growth.

Defensive-oriented utilities and telecom have been laggards for the entire session. They are currently down 0.5% and 0.7%, respectively. DJ30 +38.30 NASDAQ +15.55 SP500 +4.80 NASDAQ Adv/Vol/Dec 1708/1.10 bln/837 NYSE Adv/Vol/Dec 2047/440 mln/899

12:30 pm : Gains are gradually turning into something more solid. The slow climb higher has stocks at their best levels since the morning highs that were set in response to a stronger-than-expected ISM Service Index. Still, overall action lacks any real form of leadership.

As for small-caps and mid-caps, they currently trade with outsized gains of 0.9% and 1.1%, respectively. Small-caps and mid-caps have also been outperformers on a year-to-date basis -- for 2010, small-caps are up 5.9% and mid-caps are up 6.7%, while the S&P 500 is up just 1.0%. DJ30 +48.97 NASDAQ +16.34 SP500 +5.52 NASDAQ Adv/Vol/Dec 1740/991 mln/781 NYSE Adv/Vol/Dec 2099/402 mln/824

12:00 pm : Stocks continue to trend higher, though in choppy fashion. Overall gains remain modest, however.

Shares of retailers continue to outpace broader market action. As a group, shares of retailers are up 1.9%. That has the consumer discretionary sector up 1.2%, which is more than double the gains of the next best performing sectors (health care and industrials, +0.5%). DJ30 +29.22 NASDAQ +11.50 SP500 +3.29 NASDAQ Adv/Vol/Dec 1689/877 mln/811 NYSE Adv/Vol/Dec 2006/359 mln/903

11:30 am : Stocks are trying to improve their position. Overall action remains largely lackluster, though.

Defensive-oriented utilities (-0.5%) and telecom (-0.7%) continue to lag. Both have been under pressure for the past hour or so.

Financials also trail the broader market; the sector is up just 0.1% at the moment. Its relatively underwhelming performance comes as diversified banks dip 0.4% and diversified financial services plays slip 0.2%. DJ30 +30.96 NASDAQ +12.08 SP500 +3.40 NASDAQ Adv/Vol/Dec 1688/770 mln/800 NYSE Adv/Vol/Dec 1975/315 mln/885

11:00 am : Stocks are still chopping along just above the neutral line. The mixed tone comes after it was reported that China's banking regulator has instructed lenders to conduct a stress test that accounts for a 60% decline in residential property prices (the previous stress test involved a 30% decline). Official statements have yet to be made, however.

The stock market's negative response to the rumor reflects concerns that plummeting property prices in China, especially of the magnitude tested, would have dire consequences on the Chinese economy and, in turn, the global recovery. Underpinning the concern about the rumor, of course, is the supposition that there is a property bubble in China. DJ30 +9.39 NASDAQ +5.27 SP500 +1.00 NASDAQ Adv/Vol/Dec 1571/650 mln/855 NYSE Adv/Vol/Dec 1805/265 mln/1014

10:35 am : Stocks have made a broad retreat after failing to extend their morning advance beyond this week's highs. Reports that China's authorities have requested that the country's banks conduct a more stringent series of stress tests has put additional pressure on the pullback.

Meanwhile, the dollar has spiked to a 0.4% gain against a basket of competing currencies.

Oil inventory for the week ended July 30 showed a draw of 2.78 million barrels, which is greater than the draw of 1.65 million barrels that had been expected. However, there hasn't been much of a bullish response to the report. Instead, oil prices are in the red, where they currently trade with a 0.5% loss at $82.15 per barrel after briefly setting a new multimonth high of $82.85 per barrel in the first few minutes of pit trade.

Natural gas prices are up a modest 0.2% to $4.65 per MMBtu. The modest increase comes after back-to-back selloffs.

Gold prices have bounced up to $1200 per ounce, where they sport a 1.2% gain. It has been more than one week since the yellow metal traded above $1200 per ounce.

As for silver, it is up a relatively tame 0.4% to $18.49 per ounce. DJ30 +6.44 NASDAQ +2.81 SP500 +1.22 NASDAQ Adv/Vol/Dec 1539/535 mln/846 NYSE Adv/Vol/Dec 1757/206 mln/1048

10:00 am : The stock market has spiked to a fresh session high with the release of the July ISM Service Index, which came in at a better-than-expected 54.3 (a sample of economists polled by Briefing.com had expected, on average, a reading of 53.0 following the prior month's reading of 53.8).

The response by market participants has been broadly positive, such that eight of the 10 major sectors have put together solid gains. Only defensive-oriented telecom and utilities are in the red; telecom is off fractionally, but utilities are down 0.4%. DJ30 +63.46 NASDAQ +17.62 SP500 +7.14 NASDAQ Adv/Vol/Dec 1785/290 mln/473 NYSE Adv/Vol/Dec 2141/120 mln/588

09:45 am : Action has been a bit choppy so far, but stocks are up with varied gains in the early going.

Retailers have ripped to a 1.6% gain. The group underperformed in the prior session, but it has gotten a big boost from Priceline (PCLN 276.00, +45.33), which is up approximately 20% following better-than-expected earnings and upside guidance. Specialty retailer Barnes & Noble (BKS 15.41, +2.57) is also up some 20% amid news that the company's management believes its shares are undervalued and that strategic alternatives are being sought.

Participants await the latest ISM Service Index, which is due at the top of the hour. DJ30 +28.01 NASDAQ +13.86 SP500 +3.66 NASDAQ Adv/Vol/Dec 1680/160 mln/473 NYSE Adv/Vol/Dec 2016/79 mln/621

09:15 am : S&P futures vs fair value: +3.50. Nasdaq futures vs fair value: +7.30. A better-than-expected ADP Employment Change figure for July has propped up stock futures, such that a positive start to trade is expected. Prior to the report, the mood among premarket participants had been rather subdued since earnings reports, though largely upbeat, continue to have little influence on trade and overseas markets moved in mixed fashion. Many market watchers were also wondering what to make of the Nikkei's 2.1% drop, which came amid the yen's move to a fractionally improved multimonth high against the greenback. While the yen remains strong, the euro is taking a bit of a breather from its ascent to its own multimonth high. Coming up at 10:00 AM ET is the latest ISM Service Index, which makes for another key catalyst for trade. Weekly crude oil inventory data follows at 10:30 AM ET.

09:05 am : S&P futures vs fair value: +3.20. Nasdaq futures vs fair value: +6.50.

Action is somewhat mixed, at the moment, in Europe. Each of the continent's major bourses had been down with modest losses earlier, but they recently received a boost following the release of a better-than-expected ADP Employment Change figure from the U.S. Germany's DAX is now up 0.2%. Health care stocks (+1.1%) and materials plays (+0.9%) have provided leadership, but some of the best gains are coming from the utilities sector (+1.3%). France's CAC is now flat. Its basic materials (+1.2%) and utilities (+1.1%) plays are also strong. Britain's FTSE is still in the red as it contends with a 0.6% loss. Banking plays Standard Chartered and HSBC (HBC) are primary sources of weakness, but Lloyds Banking Group (LYG) has been a strong performer following its better-than-expected earnings report. As for data, June retail sales in the eurozone were flat month-over-month, as expected, but they were up a sharper-than-expected 0.4% year-over-year.

In Asia, mainland China's Shanghai Composite put together a 0.4% gain as PetroChina (PTR) provided positive price support. Insurers China Pacific and China Shenhua were also strong, but banking plays Industrial & Commercial Bank and Bank of China both buckled under selling pressure. Hong Kong's Hang Seng also tacked on a 0.4% gain. Telecom outperformed with a 2.5% advance. Meanwhile, tech stocks swung to a 1.5% gain, but basic materials issues fell 0.4%. Japan's Nikkei sank 2.1% in its worst single-session slide of the past two weeks. Declining issues outnumbered advancers by 10-to-1. Fanuc LTD and Fast Retailing were among the heaviest drags, while Kyocera (KYO) and Canon (CAJ) added weight. Exporters were especially troubled as the yen climbed to its best level since November 2009. As an aside, it was learned earlier this morning that Toyota (TM) posted strong results for its latest quarter and issued solid guidance.

08:30 am : S&P futures vs fair value: +4.00. Nasdaq futures vs fair value: +8.80. Stock futures swung into higher ground so that a positive start to trade now looks to be in order. The move comes in response to the latest ADP Employment Change, which was released at 8:15 AM ET. It showed that 42,000 jobs were added to private payrolls in July. That addition exceeded the increase of 25,000 that had been expected, on average, by a sample of economists polled by Briefing.com. As for June's data, payrolls were revised upward to reflect an increase of 19,000 jobs. The report acts as a precursor to the official nonfarm payrolls reading on Friday and even though the ADP numbers rarely match official figures, the ADP report is often directionally accurate relative to expectations. That said, it should also be noted that the nonfarm payrolls report is currently expected to show a loss of 100,000 jobs.

08:05 am : S&P futures vs fair value: -2.20. Nasdaq futures vs fair value: -2.30. Stock futures trail fair value by a narrow margin amid lackluster action in Europe and mixed results from Asia, where both the Shanghai Composite and the Hang Seng advanced 0.4%, but the Nikkei dove 2.1% as the yen climbed to a multimonth high. A deluge of earnings announcements has come across newswires since the prior session's close, but the wave hasn't included any market movers. As for other announcements, BP (BP) has seen progress with its efforts to cap its leaking oil well and Barnes & Noble (BKS) is pursuing strategic alternatives. The ADP Employment Change for July is due at 8:15 AM ET. The report offers a preview of the always-pivotal official jobs report, which will be released Friday morning. Also on today's calendar is the July ISM Service Index, which is due at 10:00 AM ET. Oil inventory figures for the week ended July 30 will be released at 10:30 AM ET. Treasury Secretary Geithner is scheduled to hold a speech at 4:00 PM ET.

07:51 am : S&P futures vs fair value: -1.20. Nasdaq futures vs fair value: -1.00.

07:50 am : Nikkei...9489.34...-204.70...-2.10%. Hang Seng...21549.88...+92.20...+0.40%.

07:50 am : FTSE...5340.51...-56.00...-1.00%. DAX...6299.06...-9.10...-0.10%.

07:47 am : S&P futures vs fair value: +1115.60. Nasdaq futures vs fair value: +1890.00.

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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