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 Post subject: August 13th Friday 2010 Emini TF ($TF_F) points +6.40
PostPosted: Fri Aug 13, 2010 4:35 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=596

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Trade Performance for Today: +6.40 points or $640 dollars in the ICE Russell 2000 Emini TF ($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.

Quote:
Today's results are 8 wins : 5 losses : 1 breakeven (see above #FuturesTrades log). Just a quick reminder, I'm not going to expect an improvement in the trading environment until September when many of the European professional traders return from vacation along with the conclusion of the normal low volatility summer trading session. As for my trading today, very controlled via the losers being very small per loss. However, 1 breakeven trade should have been a winner had I not made an error in my exit. Best trades of the day were the 3rd and 11th (see log above) and my worst trade of the day was the 1st trade because I scaled out when I thought I had all contracts set for the exit. Thus, the remainder was exited at a lesser price...leaving money on the table.


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

------------------------------

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

U.S. Stocks Decline as Reports Cast Doubt on Recovery: Video
Aug. 13 (Bloomberg) -- Bloomberg's Courtney Donohoe reports on the performance of the U.S. equity market today. Stocks fell, with the Standard & Poor's 500 Index dropping a fourth day, as weaker-than-estimated retail sales drove down consumer shares and Intel Corp. sank to a six-month low.

Stocks End Lower For 4th Straight Day
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By Julianne Pepitone, staff reporter
August 13, 2010: 4:23 PM ET

NEW YORK (CNNMoney.com) -- Stocks ended lower Friday, the fourth consecutive day of declines, as investors digested dour economic reports in the retail and consumer sectors.

The Dow Jones industrial average (INDU) fell 17 points, or 0.2%, to end at 10,303.15. The S&P 500 (SPX) lost 4 points, or 0.4%, to settle at 1,079.25 and the Nasdaq (COMP) fell 17 points, or 0.8% to close at 2,173.48.

All three indexes had been trading on either side of breakeven in morning trade.

"It's low-volume season, also known as August," said Kim Caughey, senior equity analyst at Fort Pitt Capital Group. "Traders are on vacation, and we get some pretty crazy reactions -- or lack of reactions -- because of that."

The retail sales and consumer sentiment data "go hand-in-hand and provide a clearer picture on the mood of consumers and how they're spending," said Peter Cardillo, chief market economist at Avalon Partners.

Stocks closed lower for a third straight session Thursday, as investors digested an unexpected rise in jobless claims and Cisco Systems' (CSCO, Fortune 500) cautious outlook.

After slight gains Monday, all three stock indexes closed lower from Tuesday to Friday amid a raft of downbeat economic reports and some tepid earnings results.

Stocks were also under pressure throughout the week after a Tuesday report from the Federal Reserve, which gave its most bearish outlook in more than a year and said the economic recovery is weakening.

The Dow lost 3.3% over the week, the S&P fell 3.8% and the Nasdaq plummeted 5%.

Retail takes a hit: A report from the Commerce Department said that July retail sales gained 0.4%, just missing economists' forecasts.

Retail shares felt an extra blow when several companies released disappointing reports.

JCPenney (JCP, Fortune 500) was down almost 4% after it forecast a full-year profit below Wall Street expectations. Nordstrom (JWM) was still off more than 6% after its late-Thursday earnings report showed higher inventories.

Economy: The University of Michigan Consumer Sentiment Index for early August rose to 69.6 from 67.8 the previous month, just missing expectations.

* Mixed bag for retailers: Video

The Labor Department's July Consumer Price Index, a key measure of inflation, snapped a 3-month streak of declines and ticking slightly higher than economists expected.

A report released later in the morning showed business inventories had edged up 0.3% in June.

Companies: IBM (IBM, Fortune 500) said it will purchase software firm Unica for $480 million, offering a whopping 120% premium for the marketing analytics company.

General Motors is expected to announce a stock offering as early as Friday to bring the company public again -- a day after the automaker said that it is getting its fourth CEO in just under 18 months.

Dell (DELL, Fortune 500) was accused of refusing to comply with court orders to reveal secret documents in an ongoing dispute with client Advanced Internet Technologies over allegedly faulty computers.

Supermarket company A&P (GAP, Fortune 500) said it will close 25 stores in five states.

* Don't blame the consumer

World markets: Markets in Asia ended mixed. The Shanghai Composite rallied 1.2%, while Japan's benchmark Nikkei index rose 0.4%. The Hang Seng in Hong Kong ended the day down 0.2%.

European shares rallied earlier in the morning following strong economic growth in the region, but indexes ended mixed. Germany's DAX fell 0.4%, while the CAC 40 in France dropped 0.3%. The FTSE 100 in Britain turned up 0.2%.

The German economy, Europe's largest economy, grew at its fastest pace since reunification in 1990 in the second quarter of the year, up 2.2%.

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

Oil futures for September delivery fell 35 cents to settle at $75.39 a barrel.

Gold futures for December delivery fell 10 cents to settle at $1,216.60 an ounce.

Bonds: Prices for Treasurys were higher. The 10-year yield hovered near a 16-month low of 2.69% on Friday from 2.75% late Thursday. Bond prices and yields move in opposite directions.

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Yahoo! Finance

4:45 pm : Friday brought stocks their fourth straight loss, which left the S&P 500 3.8% lower for the week. Data continues to drive the action.

Morning participants took their initial trading cues from overseas participants, who shrugged off stronger-than-expected eurozone GDP and sent Europe's major bourses to losses of about 1%. Selling efforts against the DAX, FTSE, and CAC eased in the afternoon, but the initial response indicated that while data of past months may be solid there remains a strong concern about the future.

As such, the response to domestic data was rather muted. Consumer prices for July increased 0.3%, which is a slightly stronger increase than the 0.2% rise that had been widely expected. Excluding food and energy, consumer prices in July were up just 0.1%, as expected.

Total business inventories for June increased 0.3%, but that was mostly because inventories at retailers increased 0.8%. Given weaker sales of recent months, that increase means goods are accumulating rather than restocking shelves.

That said, retail sales reportedly increased 0.4% in July, but that is below the 0.5% increase that had been expected. Excluding autos, retail sales increased 0.2%, as expected.

There is no evidence that connects consumer confidence to spending, but the preliminary Consumer Confidence Survey for August from the University of Michigan improved modestly to 69.6, which is just below the 70.0 that had been widely expected.

Stocks spent most of the session chopping along in listless, lackluster fashion before trending lower into the close. The weak finish marked an appropriate conclusion the poor trade of the past five days.

Retailers were hit with some of the most selling. A disappointing outlook from JC Penney (JCP 19.82, -0.98) and an underwhelming response to the latest from Nordstrom (JWN 31.05, -2.39) dragged the group down to a 1.4% loss.

Utilities were the only sector to advance. They finished with a 0.3% gain, but the defensive-oriented sector's lack of market weight gives it little sway.

Meanwhile, tech stocks, which collectively carry the most weight of any sector, were among the weakest issues. They settled 0.7% lower as large-cap tech lagged. Weakness among large-caps caused the Nasdaq to underperform its counterparts again.

Tangled trade kept participants on the sidelines once again. In turn, trading volume on the NYSE totaled a paltry 870 million shares. Only once this week did share volume on the Big Board approach the 50-day average of 1.2 billion shares.

Treasuries had a solid session that saw the yield on the benchmark 10-year Note close back below 2.70% and the yield on the 30-year Bond move down to 3.86% for the first time in three weeks.

The greenback capped of an impressive week with a 0.4% gain against competing currencies. The move gave it a weekly gain of 3.1%, its best weekly performance since May.

Advancing Sectors: Utilities (+0.3%)
Declining Sectors: Consumer Discretionary (-1.1%), Tech (-0.7%), Materials (-0.4%), Health Care (-0.4%), Energy (-0.3%), Financials (-0.3%), Industrials (-0.2%), Telecom (-0.1%)
Unchanged: Consumer StaplesDJ30 -16.80 NASDAQ -16.79 NQ100 -0.7% R2K -1.2% SP400 -0.6% SP500 -4.36 NASDAQ Adv/Vol/Dec 774/1.62 bln/1798 NYSE Adv/Vol/Dec 1367/870 mln/1637

3:30 pm : Oil prices set a weekly low close to $75 per barrel only minutes before the close of pit trade. However, the commodity was able to trim some of its loss and settle at $75.40 per barrel, down 0.4% for the day.

Natural gas prices were whipsawed for most of the afternoon, but they managed to stage a late rally that resulted in a 0.8% gain at $4.33 per MMBtu.

Precious metals traded without much excitement. As such, gold prices settled with a fractional loss at $1216 per ounce, while silver settled just 0.2% higher at $18.11 per ounce.

At a broader level, the CRB Commodity Index finished flat on Friday. However, it fell 2.2% for the week. That was the worst weekly performance in more than one month. DJ30 +4.28 NASDAQ -10.10 SP500 -1.74 NASDAQ Adv/Vol/Dec 913/1.30 bln/1646 NYSE Adv/Vol/Dec 1523/590 mln/1456

3:00 pm : Stocks have started to drift lower. Overall losses remain modest, however.

Participation is paltry again. Hardly a half billion shares have traded hands on the NYSE, so far. Such a sluggish pace could challenge Monday's total share tally, which was the lowest of 2010 at just 790 million. DJ30 +0.65 NASDAQ -8.73 SP500 -2.00 NASDAQ Adv/Vol/Dec 992/1.18 bln/1559 NYSE Adv/Vol/Dec 1514/528 mln/1439

2:30 pm : While broader market trade remains a bore, shares of Dynegy (DYN 4.48, +1.70) are up 60% and among the most actively traded issues this session. The action in the stock comes in response to news of its acquisition by Blackstone Group (BX 10.69, -0.32) for $4.50 per share, or a 62% premium over its prior session close.

In other merger and acquisition news, Norwegian firm Seawell will acquire Allis-Chalmers Energy (ALY 3.53, +1.23) for either $4.25 per share in cash, a 85% premium over the prior session's closing price, or 1.15 common shares of Seawell.DJ30 +10.67 NASDAQ -6.02 SP500 -0.90 NASDAQ Adv/Vol/Dec 1048/1.10 bln/1492 NYSE Adv/Vol/Dec 1619/485 mln/1333

2:00 pm : Stocks seem to be unable to put together any kind of meaningful push to higher ground. Accordingly, the stock market's recent scramble to an afternoon high, where it traded with only a slight gain, quickly encountered resistance. In turn, the stock market is back at the neutral line, where it continues to trade listlessly. DJ30 +13.06 NASDAQ -5.71 SP500 -0.45 NASDAQ Adv/Vol/Dec 1083/1.02 bln/1416 NYSE Adv/Vol/Dec 1635/445 mln/1278

1:30 pm : The stock market remains stuck at the neutral line.

Treasuries have had a solid session so far. Specifically, the benchmark 10-year Note is up 15 ticks so that its yield is back below 2.70% and the 30-year Bond is up almost 40 ticks so that its yield is down to 3.87%, its lowest level in three weeks. DJ30 +21.19 NASDAQ -4.36 SP500 +0.65 NASDAQ Adv/Vol/Dec 1048/955 mln/1436 NYSE Adv/Vol/Dec 1643/412 mln/1280

1:00 pm : A mixed bag of data has made for muddled trade this session. The lackluster action makes for a very anticlimactic conclusion to a week that brought about a change in attitude among market participants.

Stocks logged losses in each of the past three sessions. So steep were the slides that stocks entered Friday with a week-to-date loss of more than 3%. The weakness was largely underpinned by concern about the pace and sustainability of a global recovery.

Despite such concern, Europe's major bourses sold off in response to some stronger-than-expected second quarter GDP readings from Germany, France, and the broader eurozone. Though the bourses recovered to finish somewhat mixed, the initial response suggested that investors are more concern about the actual economic outlook.

Concerns about growth have led to chatter about deflation, but the U.S. Consumer Price Index for July made a 0.3% monthly increase, which is slightly sharper than the 0.2% increase that had been widely expected. Excluding food and energy, consumer prices were up 0.1% month-over-month, as expected.

Advance retail sales for July were up 0.4%, which is slightly less than what had been expected, but sales less autos were up 0.2%, as expected. That said, a 0.3% increase in total business inventories for June wasn't the result of restocking shelves following sales, but rather a 0.8% increase in retailers' inventories after seeing weaker sales in recent months.

Though there is no empirical evidence linking consumer confidence with actual spending, market participants showed a moderately positive response to the preliminary August Consumer Confidence Survey from the University of Michigan. It came in at 69.6, which is essentially in step with what had been widely expected and up from the prior month.

Retailers remain some of this session's weakest performers. As a group they are down 0.8% at the moment. JC Penney (JCP 20.23, -0.57) is weak following its disappointing outlook. Nordstrom (JWN 31.17, -2.27) is in even worse shape following its latest quarterly results.

Utilities stocks are this session's strongest performers. The sector is up 0.9% at the moment. That hasn't mattered much to the broader market, since the sector carries a market weight of less than 4% of the S&P 500.

Without any legitimate form of leadership in the broader market, stocks have spent most of the session chopping along without any real directional trend. The action, though muddled, has allowed stocks to stabilize after dropping almost 4% during the course of the three previous sessions.

The greenback continues to gain ground against competing currencies. Today it is up 0.2%, which gives it a 2.9% gain for the week - its best weekly performance since May. DJ30 +19.98 NASDAQ -4.13 SP500 +0.93 NASDAQ Adv/Vol/Dec 1054/885 mln/1417 NYSE Adv/Vol/Dec 1665/380 mln/1242

12:30 pm : The Dow and S&P 500 have managed to improve their positions, but the Nasdaq is lagging once again. Its loss this session stems mostly from weakness among large-cap tech issues like Apple (AAPL 250.27, -1.52), Oracle (ORCL 22.69, -0.25), and Google (GOOG 488.63, -3.38).

After three straight sessions of outsized losses, semiconductor stocks are finally benefiting from a relief bid. Among semiconductor plays, NVIDIA (NVDA 9.47, +0.51) is especially strong, even though its latest quarterly results featured an earnings miss and gross margins of less than 17% when margins more on the order of 45% had been expected. Shares of NVDA have been helped by an upgrade from Morgan Stanley.

Autodesk (ADSK 29.04, +1.59) is also up markedly after reporting its latest quarterly numbers. The company's report featured an upside earnings surprise and in-line guidance. DJ30 +9.08 NASDAQ -6.33 SP500 -0.41 NASDAQ Adv/Vol/Dec 975/808 mln/1476 NYSE Adv/Vol/Dec 1520/352 mln/1369

12:00 pm : The stock market recently chopped its way to a fresh session low, but overall losses remain modest in scope.

Retailers are trading with outsized losses, however. The group is collectively down 1.0% at the moment. JC Penney (JCP 20.23, -0.57) is among the weaker plays in the retail space. The company's weak earnings outlook has cast a pall over the better-than-expected bottom line that the company generated during its latest quarter.

Shares of Nordstrom (JWN 31.04, -2.40) are in even worse shape. The company's latest quarterly results were in-line with expectations. Its in-line outlook was also reaffirmed. DJ30 -17.10 NASDAQ -10.97 SP500 -2.92 NASDAQ Adv/Vol/Dec 844/720 mln/1580 NYSE Adv/Vol/Dec 1340/318 mln/1539

11:30 am : Shares of Eli Lilly (LLY 35.57, -1.03) are under a stiff bout of selling pressure following the company's reduced revenue forecast, which now calls for growth in the low- to mid-single digits in place of the mid-single digit growth forecast that it has previously issued. The announcement hasn't really implicated shares of any other pharmaceutical plays, but the broader health care sector, down 0.4%, still trails the overall market. DJ30 -15.82 NASDAQ -12.06 SP500 -2.62 NASDAQ Adv/Vol/Dec 782/623 mln/1608 NYSE Adv/Vol/Dec 1305/278 mln/1541

11:00 am : Trade has been choppy all morning. The listless action has left stocks to slip to fresh session lows in recent trade, though the scope of the slide certainly hasn't been severe.

While the stock market is in the red with a modest loss, advancing issues actually outnumber decliners in the S&P 500 by about 250 to 230 (approximately 20 are unchanged). Still, the market weight of the declining issues has eight of the 10 major sectors of the S&P 500 in the red -- financials (+0.3%) and utilities (+0.6%) are the only two sectors showing strength in the face of the broader market's muddled action. DJ30 -13.55 NASDAQ -10.94 SP500 -1.91 NASDAQ Adv/Vol/Dec 783/530 mln/1550 NYSE Adv/Vol/Dec 1331/235 mln/1475

10:30 am : The US Dollar Index is back near the unchanged line, while a number of commodities are also back near the unchanged line in this rather uneventful morning.

September crude oil spent most of today's session in positive territory. In the past few hours, crude has been chopping around the unchanged line and is currently $0.16 lower at $75.56 per barrel.

September natural gas has shown some volatility in the last couple of hours, quickly moving into positive territory and then right back in the red. The energy component hit morning lows of $4.27 per MMBtu earlier this morning and is now flat at $4.29 per MMBtu.

Precious metals are mixed in current trade. December gold has been trading in a tight range and is now barely lower at $1215.30 per ounce. September silver fell below the $18.00 level in recent activity, hitting new session lows of $17.97 per ounce. Silver has since moved back into positive territory and is trading just above the flat line at $18.09 per ounce.
DJ30 -7.26 NASDAQ -8.78 SP500 -1.28 NASDAQ Adv/Vol/Dec 837/389.4 mln/1414 NYSE Adv/Vol/Dec 1402/177.0 mln/1360

10:00 am : The preliminary August Consumer Confidence Survey from the University of Michigan was just released a few minutes ago. It came in at 69.6, which is essentially in step with the reading of 70.0 that had been widely expected. The preliminary August reading also reflects an improvement from the 67.8 that had been recorded in July.

Stocks have responded to the data by making a modest move higher. Overall action is still rather mixed, though.

Market participants are digesting business inventory data for June. The numbers were released moments ago and show a 0.3% increase, which is slightly greater than the 0.2% increase that had been widely expected. Data for the prior month was revised downward to reflect a 0.1% increase. DJ30 +17.03 NASDAQ -2.17 SP500 +1.68 NASDAQ Adv/Vol/Dec 998/245 mln/1153 NYSE Adv/Vol/Dec 1441/114 mln/1211

09:45 am : The S&P 500 is slightly below the unchanged line in the first few minutes of trade. The relatively flat action comes amid a divergence among the stock market's underlying sectors.

Energy stocks are up a solid 0.5% at the moment. The move has been led by oil and gas drillers (+0.9%) and oil and gas storage and transportation stocks (+0.7%) following news that the Norwegian firm Seawell will acquire Allis-Chalmers Energy (ALY 3.55, +1.25) for $890 million. Financials are also providing early support as diversified financial services stocks (+0.6%) lead the sector to a 0.3% gain.

At the other end of things, consumer discretionary stocks are down 0.6% as retailers (-0.7%) retreat in response to a rather mixed Advance Retail Sales Report for July. Health care stocks (-0.5%) are also under pressure. DJ30 -20.43 NASDAQ -9.75 SP500 -2.67 NASDAQ Adv/Vol/Dec 733/153 mln/1353 NYSE Adv/Vol/Dec 1127/73 mln/1466

09:15 am : S&P futures vs fair value: -3.80. Nasdaq futures vs fair value: -6.30. A flat start to Friday's trade is expected. That keeps stocks on track for a weekly loss of more than 3%. Weakness of recent sessions has stemmed from mounting uncertainty related to the pace and sustainability of a global economic recovery. Yet given such worry, better-than-expected GDP out of Europe hasn't done anything to allay concerns. Instead, Europe's major bourses sold off on the data overnight. Domestic stock futures initially followed, but have steadied after being dealt a mixed batch of CPI data and retail sales figures. Still to come is the latest consumer confidence reading from the University of Michigan (9:55 AM ET) and business inventory figures (10:00 AM ET).

09:05 am : S&P futures vs fair value: -4.30. Nasdaq futures vs fair value: -7.80. Futures for the S&P 500 now trade just below the unchanged mark. Pressure has also eased in Europe, where the major bourses initially sold off following stronger-than-expected GDP figures from Germany, France, and the broader eurozone. Germany's GDP in the second quarter expanded at an annualized rate of 2.2%, but the DAX fell to a loss of about 1.1% after it was up 0.5% in the early going. It is now down 0.4%. Though weakness remains rather widespread, Deutsche Telekom has been solid. In similar fashion, France Telecom is strong in the face of broader weakness in France's CAC, which is currently down 0.5% after it had been up as much as 0.9% at its open and down as much as 1.2%. The CAC's downturn comes even though France reported a pickup in annualized economic growth to 0.6% for the second quarter. As for Britain, its FTSE is off by 0.2% after it was up 0.8% at its start and down 0.8% at its low. Energy plays have been a primary source of weakness as BP (BP) and Royal Dutch Shell (RDS.A) retreat. Britain's pound is up fractionally against the greenback this morning, but the euro turned lower overnight so that it modestly trails the dollar and is now on track for a weekly loss of almost 4%.

In Asia, Hong Kong's second quarter GDP increase of 1.4% quarter-over-quarter was less than expected. That weighed on the Hang Seng, which slipped 0.2% as the other major averages in Asia staged gains. Japan's Nikkei closed 0.4% higher, led by in energy (+1.7%) and consumer staples (+1.0%) plays. Electronics giant Sony saw a solid gain amid a weaker yen, which was recently quoted at 85.8 yen per dollar. The Shanghai Composite closed climbed 1.2%. Health care (+2.5%) and industrials (+2.0%) were among its best performers, though broad-based strength helped 812 of the index's 911 stocks advanced.

08:35 am : S&P futures vs fair value: -6.40. Nasdaq futures vs fair value: -10.30. Stock futures have been gyrating following the latest dose of data, which featured July figures for consumer prices and retail sales. Advance retail sales showed a 0.4% increase, but that was slightly less than the 0.5% increase that had been widely expected. Prior month sales were revised upward to reflect a 0.3% decline. Excluding autos, retail sales were up just 0.2%, which is in step with what a sample of economists polled by Briefing.com had expected, on average, after a 0.1% decline in the prior month. When excluding both autos and gas, sales slipped 0.1% after a 0.2% increase in the prior month. The July Consumer Price Index made a 0.3% monthly increase, which is slightly sharper than the 0.2% increase that had been widely expected after a 0.1% decline in the prior month. Excluding food and energy, consumer prices were up a tepid 0.1% month-over-month, as expected.

08:00 am : S&P futures vs fair value: -5.90. Nasdaq futures vs fair value: -10.00. Stock futures had been up solidly overnight, but a sharp shift in mood came a few hours ago when Europe's major bourses sold off in the face of stronger-than-expected GDP figures from Germany, France, and the broader eurozone. The euro also turned lower so that it is now on pace for a 3.7% weekly loss-its worst in three months. Conversely, the dollar continues to attract buyers, such that it is on track for a 2.9% weekly gain-its best move since May. Hong Kong was also out with its latest GDP figures, but its quarter-over-quarter growth was actually less than expected. That weighed on the Hang Seng as the other major averages in Asia staged gains. Following the flurry of foreign data market participants await July CPI and advance retail sales figures for July (8:30 AM ET), a preliminary consumer confidence reading for August from the University of Michigan (9:55 AM ET), and June business inventories (10:00 AM ET). The impact of corporate announcements on the broader market's mood remains moderate, especially as earnings season winds down.

06:52 am : S&P futures vs fair value: -5.30. Nasdaq futures vs fair value: -9.00.

06:52 am : Nikkei...9253.46...+40.90...+0.40%. Hang Seng...21071.57...-34.10...-0.20%.

06:52 am : FTSE...5246.38...-19.70...-0.40%. DAX...6093.97...-41.20...-0.70%.

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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