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 Post subject: August 5th Thursday 2010 Emini TF ($TF_F) points +11.00
PostPosted: Fri Aug 06, 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=77&t=590

Quote:
Today's results are 4 wins : 2 losses : 1 breakeven (see above #FuturesTrades log). It was a very conservative trading day for me via intentionally spending long periods away from the computer as I continue with this week of slowing things down a little in my trading. With that said, Emini TF was obviously testing/bouncing off the price action lows of 0936am est for the remainder of the trading day while other key markets didn't have such obvious traditional support levels.


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: +11.00 points or $1100 dollars in the ICE Russell 2000 Emini TF ($TF_F) Futures
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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 Fall on Unexpected Rise in Jobless Claims: Video
Aug. 5 (Bloomberg) -- Bloomberg's Courtney Donohoe reports on the performance of the U.S. equity market today. U.S. stocks slipped, pulling the Standard & Poor's 500 Index down from an almost three-month high, as an unexpected increase in jobless claims fueled concern the economic recovery is slowing.

Stocks End Lower As Jobs Report Looms
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By Ben Rooney, staff reporter
August 5, 2010: 5:37 PM ET

NEW YORK (CNNMoney.com) -- Stocks ended a listless session modestly lower Thursday as investors focused on the job market amid signs of a sluggish economic recovery.

The Dow Jones industrial average (INDU) fell 5 points, or less than 0.1%. The S&P 500 (SPX) index slid 1.5 points, or 0.1%, and the Nasdaq (COMP) composite lost 10 points, or 0.5%.

The retreat came as investors braced for the Labor Department's monthly jobs report Friday. The report, one of the most closely watched on Wall Street, is expected to show that the U.S. economy lost jobs in July for the second month in a row.

"We've got a market that seems to be waiting on pins and needles ahead of the all-important payrolls report," said Art Hogan, chief market analyst at Jefferies & Co.

Wall Street has been focused on the job market for signs that the economic recovery, which appears to be losing steam, can be sustained. Consumer spending, the main driver of U.S. economic activity, is closely linked to employment.

"Investors are waiting to see if the economy has hit a soft patch, or taken a right-hand turn," Hogan said. "Unfortunately, we need more data before we can determine that."

Reports on the job market this week have been mixed. The government said Thursday that the number of Americans filing first-time claims for unemployment insurance rose last week to a three-month high. But a payroll processing firm said Wednesday that private sector rolls grew more than expected last month.

Also weighing on stocks, the nation's top retailers reported July sales growth that largely missed analysts' expectations, though certain pockets remained strong.

Guarded optimism about the job market helped support stocks Wednesday, but gains were slight. The Dow added 0.4% and the broader S&P 500 increased 0.6%.

The choppy action this week came after the market rallied 7% in July, marking the best month in a year for stocks. Better-than-expected corporate earnings helped support the market as concerns about the debt crisis in Europe eased last month.

"We had a great earnings season, now reality is setting back in," said Dave Rovelli, managing director of U.S. equities at Canaccord Adams.

Jobs: The number of Americans filing for initial unemployment claims climbed 19,000 to 479,000 in latest week. It marked the highest figure in three months and compared with an upwardly revised 460,000 the previous week, the Labor Department said.

Economists surveyed by Briefing.com had expected 455,000 Americans to have filed for first-time jobless claims last week.

On Friday, the Labor Department is expected to report that the economy lost 87,000 jobs in July, according to a consensus of economists surveyed by Briefing.com. The unemployment rate is forecast to rise to 9.6% from 9.5%.

In June, payrolls declined for the first time this year, with the economy suffering a net loss of 125,000 jobs. The drop was primarily due to the end of 225,000 temporary Census jobs that had swelled payrolls in May.

* An easy way to get some savings into stocks

Before that, payrolls had been growing modestly since January as the economy gradually recovered from the depths of the recession. But the recent declines have raised questions about the pace of the recovery and stoked fears that the economy could slip back into recession.

Still, private sector employment has expanded for the last six months and job growth is typically sluggish following a recession, notes John Challenger, chief executive officer of global outplacement firm Challenger, Gray & Christmas.

"The job numbers may be weaker than some are expecting," he said. "However, dips in the job numbers and other indicators do not necessarily mean an early sequel to the recession."

Retail sales: The nation's top retailers reported mixed sales for July as the back-to-school shopping season got off to a sluggish start.

Sales tracker Thomson Reuters, which looks at monthly same-store sales for 28 chains, said that July sales were up 2.9%, just below the 3.1% growth expected by analysts. Same-store sales are a key gauge of a retailer's performance at stores open at least a year.

Target (TGT, Fortune 500) said sales rose 3.8% last month, driven by apparel purchases, while electronics and other discretionary items remained soft. Shares were up more than 2%.

* The Fed's great something-flation debate

Wholesale discounter Costco (COST, Fortune 500) reported a 6% increase in sales, slightly higher than the 5.5% that had been expected. Excluding the impact of higher gas prices and favorable foreign exchange rates, however, sales rose 4% in the month. Shares fell 1.7%.

Teen stores The Buckle (BKE) and Hot Topic (HOTT) were two of the worst performers, reporting deep declines in sales for the month of around 9%, But two other teen apparel chains - Zumiez (ZUMZ) and Abercrombie & Fitch (ANF) - surprised analysts with much stronger-than-expected sales.
0:00 /3:11Great Recession: Learned our lesson?

World markets: European markets ended mixed. Britain's FTSE 100 fell 0.4%. Germany's DAX and France's CAC 40 were little changed.

The European Central Bank voted to hold its benchmark interest rate steady at 0.1%, as expected. In a statement, ECB President Jean-Claude Trichet said the EU economy strengthened in the second quarter and that activity in the current quarter has been better than expected. Looking ahead, he said growth is expected to be "moderate" and "uneven."

Separately, the ECB, European Council and International Monetary Fund said in a statement that efforts to stabilize the shaky Greek economy are off to a good start, though challenges remain.

Greece is undergoing a painful restructuring of its economy with the help of an €80 billion loan from euro area nations and a €30 billion facility from the IMF. The debt-ridden nation is expected to receive additional loans later this month.

In Asia, Japan's Nikkei rallied, climbing 1.7%. The Shanghai Composite fell 0.7% and the Hang Seng in Hong Kong finished little changed.

Currencies and commodities: The dollar gained against the euro and the British pound, but fell versus the Japanese yen.

U.S. light crude oil for September delivery fell 46 cents to $82.01 a barrel.

COMEX gold's December contract rose $3.40 to $1,199.30 per ounce.

Bonds: Treasury prices climbed Thursday, with the yield on the 10-year note falling to 2.92% from 2.95% late Wednesday. Bond prices and yields move in opposite directions.

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Yahoo! Finance

4:30 pm : A bleak weekly jobless claims count caused consternation ahead of tomorrow's pivotal nonfarm payrolls report. Stocks responded by plodding along with modest losses for the entire session.

Initial jobless claims for the week ended July 31 to a three-month high of 479,000, which was worse than the expected initial claims count of 455,000. Continuing claims came down 34,000 from the prior week, but they remain at uncomfortably high levels above 4.5 million.

Even though the weekly claims figures will not play a part in the calculation of the July payrolls report, which is due tomorrow, the data stirred concern that the report might not show the improvement that some had hoped for following a better-than-expected ADP Employment Change reading yesterday.

Uncertainty ahead of the payrolls report kept many on the sidelines. In turn, trading volume on the NYSE totaled a pathetic 875 million shares.

A lack of interest in stocks left stocks to trade listlessly for the entire session, though the major indices were able to trim their losses into the close.

Financials and tech stocks weighed on trade. The two sectors, which are the two largest by market cap and combine for 35% of the stock market's weight, both fell 0.4%. Weakness in the tech sector was partly owed to semiconductor stocks (-0.6%), while financials fell amid losses in consumer finance plays (-1.6%).

Insurers showed relative strength, though. Prudential Financial (PRU 58.00, +1.29) and Cigna (CI 33.96, +1.81) both bested earnings expectations. However, Hartford Financial (HIG 22.68, -1.16) lowered its profit outlook even though it had an upside earnings surprise of its own.

Retailers settled near session highs with a 0.6% gain, collectively. The group was led by Abercrombie & Fitch (ANF 39.53, +0.73), which posted stronger-than-expected same-store sales for July and greater-than-expected revenue figure for the latest quarter, and Macy's (M 19.78, +0.34), which also had stronger-than-expected same-store sales results, but went on to issue upside guidance.

Currencies lacked influence over the broader market as the dollar dipped 0.2%. Most of its weakness was owed to strength in the yen, which closed near its best levels of the year, and a bounce by the euro following the European Central Bank's decision to leave its benchmark rate unchanged at 1.00% and the Bank of England's choice to keep its target rate at 0.50% and maintain its bond repurchase program. ECB President Trichet followed up the decision with bullish comments about Europe's economy. That seemed to complement positive comments from other regional officials regarding fiscal progress in Greece.

Advancing Sectors: Materials (+0.3%), Telecom (+0.3%), Consumer Discretionary (+0.2%), Industrials (+0.1%), Energy (+0.1%)
Declining Sectors: Consumer Staples (-0.4%), Financials (-0.4%), Tech (-0.4%), Health Care (-0.1%)
Unchanged: Utilities DJ30 -5.45 NASDAQ -10.51 NQ100 -0.2% R2K -1.2% SP400 -0.5% SP500 -1.43 NASDAQ Adv/Vol/Dec 871/1.78 bln/1740 NYSE Adv/Vol/Dec 1273/875 mln/1733

3:30 pm : Commodities concluded pit trade for Thursday with mixed results, but the CRB Commodity Index still shed 0.5%.

Natural gas was one of the worst performers. It had been as high above $4.80 per MMBtu in the early going, but sellers stepped in once it was learned that weekly inventories had a build of 29 bcf, which is actually less than the 33 bcf that had been widely expected. Contract prices for the commodity closed 2.8% lower at $4.61 per MMBtu.

Oil prices never garnered any real support. In turn, contracts for crude closed with a 0.6% loss at $82.01 per barrel.

Precious metals made modest gains. Specifically, gold tacked on 0.3% to finish at $1199.30 per ounce and silver settled 0.2% higher at $18.32 per ounce.

In the soft commodities space, wheat prices continued their ascent. The grain gained 7.3% to close at $8.11 per bushel amid reports that Russia, which produces some 8% of the world's wheat, will ban exports of grains in August. DJ30 -11.28 NASDAQ -7.43 SP500 -1.50 NASDAQ Adv/Vol/Dec 957/1.44 bln/1620 NYSE Adv/Vol/Dec 1311/624 mln/1646

3:00 pm : Stocks have spent the past hour in a narrow trading range. That has kept them in the red with modest losses.

Participation remains paltry. In turn, trading volume is very light at less than 600 million shares on the NYSE. Though low-volume trade has been a frequent theme for the past several weeks, the lack of interest in the latest sessions is likely linked to caution among traders ahead of the July nonfarm payrolls report, which is due tomorrow morning. DJ30 -26.03 NASDAQ -10.54 SP500 -3.49 NASDAQ Adv/Vol/Dec 943/1.32 bln/1642 NYSE Adv/Vol/Dec 1211/564 mln/1737

2:30 pm : Strength in shares of AT&T (T 26.81, +0.17) and Verizon (VZ 29.54, +0.14) have helped the telecom sector make its way to a 0.4% gain, which gives it a healthy lead over the broader market and makes it the best performing sector in the S&P 500.

In contrast, financials continue to lag the broader market. At the moment they are down 0.6%, which makes them the worst performing sector in the S&P 500. Transaction and payment processor Visa (V 71.59, -0.86) and consumer finance play American Express (AXP 42.99, -1.12) have been heavy drags on the sector. DJ30 -22.25 NASDAQ -9.05 SP500 -3.10 NASDAQ Adv/Vol/Dec 947/1.24 bln/1619 NYSE Adv/Vol/Dec 1256/520 mln/1700

2:00 pm : Stocks recently made a move to an incrementally improved afternoon high, but action remains largely range bound as the major indices remain mired in negative territory with modest losses.

The dollar has come under some slightly increased selling pressure, such that it is now down 0.2% after plodding along the neutral line for most of the late morning and afternoon. It is still well above its session low, though. DJ30 -24.67 NASDAQ -8.64 SP500 -3.33 NASDAQ Adv/Vol/Dec 912/1.15 bln/1635 NYSE Adv/Vol/Dec 1223/480 mln/1713

1:30 pm : Small-cap stocks are underperforming. To be specific, the Russell 2000 is down 1.0% while the S&P 500 is down a more tame 0.4%. Declining issues outnumber advancers by nearly 4-to-1 in the Small-Cap Index, but in the broader market that ratio is closer to a less bearish 2-to-1. DJ30 -38.14 NASDAQ -13.11 SP500 -4.59 NASDAQ Adv/Vol/Dec 818/1.07 bln/1699 NYSE Adv/Vol/Dec 1132/440 mln/1791

1:00 pm : Stocks have been stuck in negative territory with modest losses for the entire session. The action comes amid a disappointing weekly jobless claims count and caution ahead of tomorrow's pivotal nonfarm payrolls report.

The mood on trading floors dampened this morning with news that the latest initial jobless claims count climbed to a three-month high of 479,000, which also proved worse than the 455,000 claims that had been widely expected. Continuing claims came down 34,000 from the prior week, but they are still at very uncomfortable levels above 4.5 million.

Even though the weekly claims figures don't factor into the official monthly payrolls report, which is due tomorrow, the data has had a negative psychological impact on traders. A better-than-expected ADP Employment Change reading yesterday had provided hope to some that job conditions might show signs of further improvement.

Consternation about what tomorrow's jobs report will offer has left stocks to trade listlessly as only a few issues manage to muster limited gains.

As a group, shares of retailers are up fractionally. The advance comes after a mixed bag of same-store sales results for July. Macy's (M 19.54, +0.10) had been a early standout after the company had stronger-than-expected same-store sales results and even issued upside guidance, but its strength has faded.

Financial have lagged for the entire session. The widely-watched sector is currently off by 0.7%. Insurers are seeing mixed interest after Hartford Financial (HIG 22.54, -1.30) lowered its forecast despite an upside earnings surprise, Prudential Financial (PRU 57.84, +1.13) bested expectations, and Cigna (CI 33.59, +1.44) offered a better-than-expected bottom line.

The greenback has been quiet in the past couple of hours. It had been down 0.5% at its session low, but is now flat. Pressure against the dollar intensified as the euro climbed amid bullish comments about the European economy from European Central Bank (ECB) President Trichet. Trichet's comments came after the ECB opted to leave its benchmark lending rate unchanged at 1.00% and regional officials issued positive statements about the fiscal progress of Greece. DJ30 -43.06 NASDAQ -13.19 SP500 -4.94 NASDAQ Adv/Vol/Dec 820/990 mln/1686 NYSE Adv/Vol/Dec 1110/405 mln/1805

12:30 pm : Gold stocks are mixed after Kinross Gold (KGC 15.68, -0.04) and Yamana Gold (AUY 9.75, +0.03) announced their latest quarterly results, which featured in-line results from KGC and a miss from AUY. Other precious metals plays Barrick Gold (ABX 42.79, +0.18) and Newmont Mining (NEM 56.56, +0.31) have seen slightly stronger support. DJ30 -34.89 NASDAQ -12.76 SP500 -4.20 NASDAQ Adv/Vol/Dec 829/913 mln/1669 NYSE Adv/Vol/Dec 1139/374 mln/1741

12:00 pm : Stocks continue to trade with modest losses as listless, lackluster trade persists.

The tone around commodities has deteriorated since the early going, though oil prices aren't much off of earlier levels. Oil was recently quoted with a 0.6% loss at $81.95 per barrel, while natural gas is now down 2.7% to $4.61 per MMBtu, gold prices are down 0.1% to $1192.10 per ounce, and silver was last spotted 0.2% lower at $18.31 per ounce.

Treasuries have been solid this session. As such, the benchmark 10-year Note is currently up 15 ticks, which has been enough to take its yield back below 2.90%. DJ30 -37.01 NASDAQ -13.40 SP500 -4.70 NASDAQ Adv/Vol/Dec 828/825 mln/1632 NYSE Adv/Vol/Dec 1127/337 mln/1742

11:30 am : Financial stocks are among this session's worst performers -- the sector is down 0.8% at the moment. Its weakness comes as consumer finance palys fall 1.5% and regional banks slide 1.1%. Meanwhile, insurers are mixed as Hartford Financial (HIG 22.85, -1.00) slides after it posted an upside earnings surprise, but lowered its forecast below the consensus. Prudential Financial (PRU 56.45, -0.26) posted an upside earnings surprise of its own, but its shares have still fallen under selling pressure. Cigna (CI 33.59, +1.44) is up handsomely amid a better-than-expected bottom line and forecast that matches Wall Street's outlook. DJ30 -36.33 NASDAQ -14.78 SP500 -5.06 NASDAQ Adv/Vol/Dec 778/728 mln/1656 NYSE Adv/Vol/Dec 1084/296 mln/1763

11:00 am : Stocks had been trimming their losses throughout morning trade, but renewed pressure has undercut the major indices to take them back to more marked losses.

Retailers are relatively strong, however. The group is currently up 0.2% as the likes of Target (TGT 52.71, +1.21) and Macy's (M 19.83, +0.39) provide leadership to the space. Their strength stems from a positive response to news that Macy's reported strong same-store sales results for July and issued upside guidance. Target actually reported same-store sales results for July that were slightly less than had been projected. DJ30 -47.15 NASDAQ -16.99 SP500 -6.68 NASDAQ Adv/Vol/Dec 739/520 mln/1642 NYSE Adv/Vol/Dec 945/247 mln/1862

10:30 am : Natural gas prices just retreated from about $4.79 per MMBtu to $4.75 per MMBtu, where they now trade with a gain of 0.3%. The move comes amid news that the latest weekly inventory count showed a build of 29 bcf when a build of 33 bcf had been expected.

Meanwhile, oil prices are down 0.4% to $82.15 per barrel. The commodity set a new multimonth high of almost $83 per barrel in the early part of the prior session.

Gold prices are flat at $1194 per ounce after a 1.3% gain in the prior session.

Silver was last quoted with a 0.5% gain at $18.36 per ounce after a 0.8% slide on Wednesday. DJ30 -17.63 NASDAQ -6.56 SP500 -2.62 NASDAQ Adv/Vol/Dec 895/437 mln/1402 NYSE Adv/Vol/Dec 1229/185 mln/1492

10:00 am : The major equity averages have managed to trim some of their opening losses, but the Dow, S&P 500, and Nasdaq each remain in the red.

The dollar has also managed to improve its position. It had been down as much as 0.5% against a basket of major foreign currencies after European Central Bank President Trichet issued optimistic comments that won favor for the euro. The euro is now flat and the greenback is down just 0.1%.

Advancing Sectors: Consumer Discretionary (+0.1%)
Declining Sectors: Energy (-0.7%), Financials (-0.7%), Tech (-0.5%), Consumer Staples (-0.4%), Utilities (-0.3%), Industrials (-0.3%), Health Care (-0.2%), Telecom (-0.1%)
Unchanged: Materials DJ30 -32.47 NASDAQ -5.99 SP500 -3.73 NASDAQ Adv/Vol/Dec 816/250 mln/1402 NYSE Adv/Vol/Dec 1048/118 mln/1605

09:45 am : Each of the 10 major sectors in the S&P 500 have started trade with a loss. Weakness is most pronounced among energy plays, which are down 0.9% amid a 0.8% pullback in oil prices to $81.80 per barrel. However, Transocean (RIG 56.65, +3.09) is up sharply as participants respond positively to the company's latest quarterly report.

Telecom stocks underperformed in the prior session as they were the only sector to log a loss, but the group has managed to limit its loss this morning to a fractional decline. DJ30 -43.55 NASDAQ -8.34 SP500 -5.51 NASDAQ Adv/Vol/Dec 638/144 mln/1505 NYSE Adv/Vol/Dec 699/78 mln/1907

09:15 am : S&P futures vs fair value: -6.30. Nasdaq futures vs fair value: -8.50. Stocks appear to be headed for a lower open as premarket participants show a negative response to the latest weekly jobless claims count. Though the report has no bearing on tomorrow's pivotal nonfarm payrolls report, the psychological impact of persistently high weekly jobless claims remains unpleasant. That comes in contrast with recent comments from European Central Bank (ECB) President Trichet, who offered a rather bullish outlook on European economic activity after the ECB opted to leave its benchmark lending rate unchanged at 1.00%. Regional officials also had positive things to say about the fiscal progress of Greece, which has been a place of concern for months due to concern that the country could drain the coffers of the continent's central banks and major economies. The euro is up 0.2% amid the news, but it is off of its session high. Corporate news flow has generally had little influence over the mood of traders as retailers post a mixed batch of monthly same-store sales results and the number of earnings from widely-held names wanes.

09:05 am : S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -7.80. Europe's major bourses have pulled back following a disappointing weekly jobless claims count out of the U.S. Early gains there came amid positive comments about fiscal progress in Greece from regional officials. However, upbeat comments about economic activity in broader Europe from European Central Bank President Trichet have had a muted impact on trade, but they did drive the euro higher. The euro now sports a 0.4% gain against the greenback after it showed no real reaction to the ECB's decision to keep target rates pegged at 1.00%. Germany's DAX is currently up 0.2%, while France's CAC is up 0.5%, and Britain's FTSE is flat amid disappointing results from Barclays (BCS). The Bank of England also announced it will leave its benchmark lending rate unchanged at 0.50%, and keep intact its bond purchase program. Both decisions were expected. In Asia, Japan's Nikkei rallied back from the prior session's loss of more than 2% by staging a 1.7% gain. Fast Retailing was a primary leader, but Toyota Motor (TM) attracted plenty of attention following its strong quarterly report. Hong Kong's Hang Seng closed unchanged, but mainland China's Shanghai Composite dropped to a 0.7% loss in response to rumors about a series of bank stress tests that would make banks account for a 60% drop in property prices.

08:35 am : S&P futures vs fair value: -4.40. Nasdaq futures vs fair value: -7.00. Stock futures have been hit by a negative reaction to the latest weekly jobless claims figures. Initial jobless claims for the week ended July 31 totaled 479,000, which is greater than the expected count of 455,000 and up 19,000 from the prior week. Continuing claims came in at 4.54 million, which is down 34,000 week-over-week. Though it is worth noting that the latest jobless claims figures have no bearing on tomorrow's official unemployment report, the psychological impact of another high claims count remains uninspiring. The dour data has also had a hand in dropping the dollar, which has been further undermined by a rise in the euro following positive comments about economic activity in Europe from ECB President Trichet.

08:05 am : S&P futures vs fair value: +1.10. Nasdaq futures vs fair value: -1.50. Futures for the S&P 500 are flat at the moment. Participants remain generally uninterested in earnings, even though results remain upbeat. Also out is a raft of same-store sales results, which have been somewhat mixed so far. The domestic economic calendar is light ahead of the official monthly nonfarm payrolls figures on Friday - only weekly jobless claims (8:30 AM ET) and a speech from Treasury Secretary Geithner (12:00 PM ET) are on today's docket. Across the pond, Europe's major bourses are up with solid gains following positive comments about fiscal progress in Greece from regional officials. The Bank of England also announced it will leave its benchmark lending rate unchanged at 0.50%, and keep intact its bond purchase program. The European Central Bank will keep its target rate pegged at 1.00%. In Asia, Japan's Nikkei rallied back from its outsized loss in the prior session. Toyota Motor (TM) was a notable name after it posted a strong quarterly report yesterday. However, China's Shanghai Composite fell following rumors of more stringent bank stress tests.

07:50 am : S&P futures vs fair value: +0.90. Nasdaq futures vs fair value: -0.50.

07:50 am : Nikkei...9653.92...+164.60...+1.70%. Hang Seng...21551.72...+1.80...0.00.

07:50 am : FTSE...5402.86...+16.80...+0.30%. DAX...6369.12...+36.40...+0.60%.

Special thanks to Bloomberg, CNNMoney and Yahoo! Finance for their market summaries. gm

Best Regards,
M.A. Perry
Trader and Founder of WRB Analysis (wide range body analysis)
Image@ http://twitter.com/wrbtrader and http://stocktwits.com/wrbtrader

Phone: +1 708 572-4885
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