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 Post subject: August 27th Friday 2010 Emini TF ($TF_F) points +10.10
PostPosted: Mon Aug 30, 2010 8:00 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=606

click on the below images to view normal size
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Trade Performance for Today: +10.10 points or $1010 dollars in the ICE Russell 2000 Emini TF ($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 4 wins : 2 losses (see above #FuturesTrades log). I'm on a semi-vacation for today and will return to normal trading on Aug 30th Monday. Basically that implies I only traded today's first hour trading session and then spend the rest of the day with my family. I'm still having some trade management problems involving exiting my remainders. Basically I've been too slow to recognize the price stall and new s/r levels developing after the price stalls.

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 and there's a free study guide of the WRB Analysis Tutorial Chapters 1, 2 and 3 @ http://www.thestrategylab.com/tsl/forum/viewforum.php?f=119. However, you must join the TSL Support Forum to access the free study guide. To register...click here.

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 Advance on GDP Data, Bernanke Growth Pledge: Video
Aug. 27 (Bloomberg) -- Bloomberg's Courtney Donohoe reports on the performance of the U.S. equity market today. U.S. stocks rose, paring the market's third straight weekly loss, as Federal Reserve Chairman Ben S. Bernanke vowed to safeguard the recovery and growth in gross domestic product slowed less than estimated.

Stocks Shake Off Recovery Jitters
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By Blake Ellis, staff reporter
August 27, 2010: 5:15 PM ET

NEW YORK (CNNMoney.com) -- The economy is slowing, the Fed is cautious about the recovery and the world's biggest chipmaker is lowering its sales forecast. But stocks rallied more than 1% Friday.

The Dow Jones industrial average (INDU) surged 165 points, or 1.7%, the S&P 500 (SPX) jumped 17 points, or 1.7%, and the Nasdaq (COMP) composite rose 35 points, or 1.7%. While finishing in positive territory for the day, the major indexes ended in the red for the week.

"The market is starving for something decent to look at," said Rob Russell, president of financial planning firm Russell & Company.

Second-quarter GDP, the broadest measure of economic activity, was revised sharply lower, but was less drastic than forecast. Meanwhile, Fed Chairman Ben Bernanke said the recovery is sputtering, but stressed that the Fed has the tools to ensure continued growth.

"None of this is good information, [but] the GDP revision was better than what people were looking for, and the fact that Bernanke outlined some options about what the Fed could still do and is willing to do has helped an uptrend," said Russell.

Stocks tumbled briefly in trading earlier after chipmaker Intel said its third-quarter revenue would come in lower than it previously forecast, unnerving already frazzled investors.

On Thursday, the major indexes were unable to hold early gains despite a better-than-expected report on initial jobless claims. Trading has been choppy this week as investors remain wary about the economic outlook, following two disappointing reports on the housing market.
Fed ready to take 'unconventional measures'

Economy: Second-quarter GDP was revised to an annual growth rate of 1.6%, according to new government estimates.

The figure dropped significantly from the initial reading of 2.4%, but topped expectations of a slide to 1.4%.

At an annual meeting of central bankers in Jackson Hole, Wyo., Fed Chairman Ben Bernanke said the economic recovery is "less vigorous" than expected but said the Federal Reserve has the tools needed to help the nation maintain growth.

"The disappointment with Bernanke's speech is that it seems no action is imminent," said Mark Luschini, chief investment strategist at Janney Montgomery Scott. "The Fed is saying we have the tools on hand, but we're not pulling the gun out of the holster today, which investors take to mean that we're going to stay in this economic slowdown."
0:00 /4:07The double-dip debate

Separately, the Reuters/University of Michigan index of consumer sentiment for August was unchanged from a preliminary reading earlier this month and edged up to 68.9 from 67.8 in July. The figure bounced off the eight-month low hit in July but just missed economists' forecasts.

Companies: Intel (INTC, Fortune 500) issued a revenue warning, saying that its third-quarter sales will fall below the company's previous expectations. Shares, which were halted for 15 minutes Friday, gained more than 1% after they resumed trading.

"Intel coming out revising its revenue to the lower end of its range only further exacerbates the fears that the economy's growth is stalling," said Luschini.

The bidding war for 3PAR (PAR) continued Friday, as Dell (DELL, Fortune 500) increased its offer for the storage company to match HP's (HPQ, Fortune 500) bid made Thursday, at $27 per share. 3PAR accepted Dell's offer, but HP upped its bid again early Friday, topping Dell's latest offer.

Shares of 3PAR jumped 25%, while Dell's stock rose 1%. Shares of HP edged down less than 1%.

* Global economy going nowhere fast

World markets: European shares rallied. The CAC 40 in France and Britain's FTSE 100 ended 0.9% higher, and the DAX in Germany gained 0.7%.

Asian markets ended mixed. Japan's benchmark Nikkei index added 1.7%, and the Shanghai Composite rose 0.3%. The Hang Seng in Hong Kong fell 0.3%.

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

Oil futures for October delivery gained $1.81 to settle at $75.17 a barrel. Gold for December delivery gained 20 cents, settling at $1,237.90 an ounce.

Bonds: The yield on the 10-year Treasury note rose to 2.6% from 2.5% late Thursday.

Image

Yahoo! Finance

4:30 pm : Whipsaw trade followed a flurry of headlines in the early going, but buyers soon surfaced to drive down volatility and give stocks their best gain in three weeks.

Sellers controlled the stock market in recent sessions and, as a result, sent the S&P 500 lower in five of the six sessions leading up to Friday for a cumulative loss of more than 4%. Such a slide prompted many participants to bet against the market with short positions.

Despite pessimistic trade ahead of Friday, stocks started the week's final session on a strong note. The mood was helped by news that second quarter GDP increased at an annualized rate of 1.6%. That was down from the preliminary rate of 2.4%, but it wasn't as poor as the 1.4% growth that had been widely expected. Participants also got a positive surprise with news that personal consumption for the second quarter was revised upward to reflect 2.0% growth after it had been expected to remain at 1.6%.

Early gains began to fade ahead of the final Consumer Sentiment Survey for August from the University of Michigan. The Survey was revised down slightly to 68.9 from 69.6 and was also below the reading of 70.0 that had been widely expected, but it was actually met with a bit of a positive response.

The market's attention was quickly diverted by a disappointing announcement from Intel (INTC 18.37, +0.19). The chip bellwether forecast third quarter revenue in the range $10.8 billion to $11.2 billion, but Wall Street had something closer to $11.5 billion in mind.

A knee-jerk response to Intel's announcement dropped the Dow 100 points into the red and put the S&P 500 back in touch with its August low of 1040. Support there helped stocks stage a sharp rebound that gained momentum by squeezing short sellers out of their positions.

Buyers were also encouraged by Fed Chairman Bernanke's comment that it is reasonable to expect some pickup in growth in 2011 and subsequent years, even though the recovery in output and employment has slowed. Bernanke also stated that policy options are available to provide additional stimulus, if needed.

Though the stock market attracted a broad bid, it initially had trouble pushing through the 1058 to 1060 zone. It eventually overcame resistance to settle at a session high just below 1065. Despite such a strong close, the S&P 500 still logged its second straight weekly loss of 0.7%. With that, the stock market is down more than 3% month-to-date.

Nonetheless, the improved tone among traders caused volatility to cool considerably. In fact, the Volatility Index dropped more than 10% in its sharpest single-session slide in more than two months.

Strong gains among stocks and a drop in volatility drove many out of Treasuries. Specifically, the benchmark 10-year Note gave up more than a point so that its yield moved back above 2.60% for the first time since Monday.

The dollar had a lackluster session. It finished flat, though the Japanese yen dove almost 1% amid news that Japan's central bank will hold an emergency meeting next week. Many presume that the meeting's purpose is to discuss the yen's appreciation - earlier this week the yen hit a 15-year high against the dollar.

Overall strength among commodities helped the CRB Commodity Index advance 1.2%. Not only was that its best single-session move of the month, but it also gave the CRB its first set of back-to-back gains for August.

As an aside, the bidding battle between Dell (DELL 11.89, +0.14) and Hewlett-Packard (HPQ 38.00, -0.22) for 3Par (PAR 32.46, +6.43) continues, though 3Par had already accepted an offer from Dell just yesterday. Dell upped its offer this morning to $27 per share of PAR in order to match a new offer from HP, but HP then raised its offer to $30 per share.

Advancing Sectors: Materials (+2.9%), Energy (+2.8%), Financials (+2.3%), Industrials (+2.1%), Utilities (+1.9%), Consumer Discretionary (+1.6%), Tech (+1.2%), Health Care (+1.0%), Telecom (+0.8%), Consumer Staples (+0.7%)
Declining Sectors: (None)DJ30 +164.84 NASDAQ +34.94 NQ100 +1.3% R2K +2.8% SP400 +2.2% SP500 +17.37 NASDAQ Adv/Vol/Dec 2165/2.16 bln/470 NYSE Adv/Vol/Dec 2608/1.09 bln/392

3:30 pm : Overall strength among commodities helped the CRB Commodity Index advance 1.2%. Not only was that its best single-session move of the month, but it also gave the CRB its first set of back-to-back gains for August.

Oil prices climbed 2.5% to settle at $75.19 per barrel. That move extended the commodity's upturn from the two-month low of $70.76 per barrel that it set earlier this week.

Natural gas prices fell another 4.7% to close pit trade at $3.64 per MMBtu, which marks a new 11-month closing low for the energy component. Natural gas prices are now down more than 25% from their August high.

Precious metals made modest gains. Specifically, gold and silver prices both advanced 0.4%. They settled at $1242.50 per ounce and $19.06 per ounce, respectively. Silver prices on the continuous future contract had been as high as $19.34 per ounce, which marked their best level in two months. Gold prices on the continuous contract set a near-two month high of $1243.30 per ounce in the prior session. DJ30 +150.31 NASDAQ +32.98 SP500 +15.82 NASDAQ Adv/Vol/Dec 2091/1.80 bln/519 NYSE Adv/Vol/Dec 2544/770 mln/438

3:00 pm : Stocks recently stretched to new session highs, but they can't quite gain the momentum necessary to meaningfully extend their advance. Such restriction is likely to leave the stock market in the red for the week. Stocks have already booked back-to-back weekly losses.

Nonetheless, the tone of trade remains considerably improved from the action earlier this week. Heading into this morning, stocks had fallen in five of the six previous sessions for a cumulative loss of more than 4%. DJ30 +143.80 NASDAQ +30.57 SP500 +14.59 NASDAQ Adv/Vol/Dec 2064/1.66 bln/545 NYSE Adv/Vol/Dec 2507/701 mln/456

2:30 pm : Stocks have yet to make any meaningful move out of their recent trading range. Their gains are still strong, though.

Meanwhile, the dollar remains mired near the neutral line. It has stayed their even though the yen has retreated to a 1.1% loss amid news that Japan's central bank will hold an emergency meeting next week. Many presume that the meeting's purpose is to discuss the yen's appreciation -- earlier this week the yen hit a new 15-year high against the dollar. DJ30 +135.93 NASDAQ +28.41 SP500 +14.02 NASDAQ Adv/Vol/Dec 2018/1.55 bln/563 NYSE Adv/Vol/Dec 2501/649 mln/456

2:00 pm : The S&P 500 has poked out of its recent trading range to set a fractionally imporved session high. Whether the modest move turns into anything material has yet to be seen.

There is no individual leader this session, but natural resource plays are catching the strongest bidding. Support for materials stocks and energy stocks has the two sectors up 2.4% and 2.3%, respectively. At the opposite end of the spectrum, consumer staples stocks are up just 0.4%. DJ30 +133.73 NASDAQ +27.28 SP500 +14.20 NASDAQ Adv/Vol/Dec 1994/1.44 bln/572 NYSE Adv/Vol/Dec 2496/591 mln/475

1:30 pm : Stocks recently surrendered a few points during a gradual, downward drift, but the S&P 500 has since recovered to make its way back into the 1058 to 1060 zone, which has acted as an area of resistance against further gains for stocks this session. DJ30 +116.65 NASDAQ +22.50 SP500 +11.55 NASDAQ Adv/Vol/Dec 1909/1.34 bln/630 NYSE Adv/Vol/Dec 2429/538 mln/524

1:05 pm : Stocks were whipped around following a flurry of headlines, but the major averages have made their way to a 1% gain.

A smaller-than-expected downward revision to second quarter GDP helped the major averages start the session with solid gains, but early support faded quickly. Stocks started to steady amid a slightly lower-than-expected final reading on consumer sentiment from the University of Michigan, but sellers stepped in when Intel (INTC 18.40, +0.22) issued downside revenue guidance.

Knee-jerk selling sent the S&P 500 down to the 1040 line, which put it back in touch with its August low, but stocks almost immediately rebounded. The upturn came a few minutes after prepared remarks from Fed Chairman Bernanke began to circulate. Though Bernanke acknowledged that the recovery in output and employment has slowed, he went on to state that it is reasonable to expect some pickup in growth in 2011 and subsequent years.

The stock market's rebound squeezed short sellers. That helped extend the advance, but resistance in the 1058 to 1060 zone has capped the move. Limited gains this session are likely to keep the stock market on track for a 1% weekly loss. That would make for its third straight weekly slide.

Nonetheless, the tone of trade this early afternoon has been much more positive than it had been in recent sessions. As such, advancing issues outnumber decliners by 10-to-1 in the S&P 500.

That has helped send the Volatility Index down about 7% and stirred selling among Treasuries, such that the benchmark 10-year Note is down well over a point and its yield is back above 2.60% for the first time since Monday.

Outside of the Intel announcement, corporate headlines have had little effect on the overall mood of the market. It should be noted, though, that 3Par (PAR 32.35, +6.32) remains at the center of a bidding battle between Dell (DELL 12.06, +0.31) and Hewlett-Packard (HPQ 37.66, -0.56). Though 3Par had already agreed to a takeover offer from Dell, Dell was forced to hike its bid to $27 per share in order to fend off an offer of the same amount from HP. HP has since raised its offer for 3Par to $30 per share. DJ30 +102.93 NASDAQ +18.63 SP500 +9.90 NASDAQ Adv/Vol/Dec 1892/1.23 bln/625 NYSE Adv/Vol/Dec 2399/501 mln/548

12:30 pm : Stocks are moving sideways along session highs. The steady support is broad based as all 10 major sectors in the S&P 500 sport gains -- six of them are up by more than 1%.

Commodities are having a solid session, such that the CRB Commodity Index is up 0.9%. Should the advance hold, it will mark only the CRB's sixth gain of this entire month. DJ30 +129.04 NASDAQ +24.82 SP500 +13.21 NASDAQ Adv/Vol/Dec 1926/1.14 bln/556 NYSE Adv/Vol/Dec 2460/460 mln/451

12:00 pm : Stocks are taking a breather from their midmorning climb. That has the S&P 500 trending along the 1058 line.

Steady gains have caused volatility to cool. In turn, the Volatility Index is down 6%.

Low volatility and strong gains among stocks has weighed heavily on Treasuries. In turn, the benchmark 10-year Note is down more than a full point. DJ30 +107.74 NASDAQ +17.85 SP500 +10.70 NASDAQ Adv/Vol/Dec 1883/1.04 bln/579 NYSE Adv/Vol/Dec 2384/423 mln/492

11:30 am : Stocks have extended their climb so that they now stand at fresh session highs. The advance has offset the prior session's loss, but stocks are still down more than 1% week-to-date, which could make for their third straight weekly loss.

Nonetheless, this session's advance has been broad based, such that advancing issues outnumber decliners by 10-to-1 in the S&P 500. Of the advancers, materials stocks are generally in the best shape -- the sector is up 2.3% at the moment. DJ30 +129.65 NASDAQ +23.12 SP500 +12.93 NASDAQ Adv/Vol/Dec 1874/920 mln/564 NYSE Adv/Vol/Dec 2393/375 mln/470

11:00 am : The S&P 500 dropped all the way to the 1040 line, which put it in touch with its weekly low, but it quickly rebounded back to positive territory to trade with a modest gain.

Fed Chairman Bernanke's prepared remarks indicated that the pace of recovery in output and employment has slowed in recent months amid softer consumer spending and construction. However, he stated that it is reasonable to expect some pickup in growth in 2011 and subsequent years. Bernanke went on to say that the Fed is already supporting the economic recovery by maintaining an extraordinarily accommodative monetary policy, using multiple tools. Should further action prove necessary, Bernanke said policy options are available to provide additional stimulus. DJ30 +47.91 NASDAQ +2.98 SP500 +4.25 NASDAQ Adv/Vol/Dec 1423/725 mln/899 NYSE Adv/Vol/Dec 1935/303 mln/857

10:30 am : Broader markets pulled back near the top of the hour after Intel (INTC 18.32, +0.14) lowered its third quarter revenue guidance. However, those losses have been mostly recovered. Around the same time, the US Dollar Index rallied sharply.

October crude oil lost steam also around the top of the hour, falling sharply to new session lows of $72.04 per barrel. This move comes after almost hitting 3-month lows in Tuesday's trade. Crude has since gained back the majority of today's losses and is now trading at $73.17, 0.3% lower. September natural gas fell to new morning lows of $3.70 per MMBtu after trading at the unchanged line all session. Despite the pick up in crude, natural gas remains sitting just above its session lows, and is currently 2.3% lower at $3.73 per MMBtu.

Precious metals also pulled back in recent trade. December gold fell to new session lows of $1233.50 per ounce, while September silver pulled back just below the flat line. Gold is currently just below the unchanged line at $1237.40 per ounce and silver is currently 0.5% higher at $19.08 per ounce. Continuous gold futures are nearing a 1-month high, while silver came close to 2-month highs in trade yesterday.DJ30 +13.85 NASDAQ +0.78 SP500 +0.20 NASDAQ Adv/Vol/Dec 1442/506.5 mln/815 NYSE Adv/Vol/Dec 1765/220.2 mln/971

10:00 am : Stocks recently climbed a few points with the release of the final Consumer Sentiment Survey for August from the University of Michigan, but they are now on the backslide. The Survey came in at 68.9, which is a down from the preliminary reading of 69.6 and also below the reading of 70.0 that had been expected, on average, by a sample of economists polled by Briefing.com.

Downside action has accelerated amid news that Intel (INTC, halted) has trimmed its third quarter revenue forecast. The company expects revenue to range from $10.8 billion to $11.2 billion, which fails to meet Wall Street's forecast for $11.5 billion.

Excerpts from Fed Chairman Bernanke's speech have started to cross newswires. Bernanke is speaking from an annual symposium in Jackson Hole, WY. DJ30 -9.16 NASDAQ -7.84 SP500 +0.78 NASDAQ Adv/Vol/Dec 1088/225 mln/1070 NYSE Adv/Vol/Dec 1282/115 mln/1361

09:45 am : The major equity averages have slipped from their opening highs, but they remain in positive territory. Gains are broad based as nine of the 10 major sectors in the S&P 500 trade in the green -- a 0.1% loss has made health care the only sector to trade lower.

Similar to the prior session, there isn't any clear source of leadership. Instead, gains are slight to modest in the early going.

Coming up in just a few minutes is the final August Consumer Sentiment Survey from the University of Michigan (9:55 AM ET). It is followed by a speech from Fed Chairman Bernanke (10:00 AM ET). DJ30 +22.35 NASDAQ +4.33 SP500 +2.45 NASDAQ Adv/Vol/Dec 1340/125 mln/749 NYSE Adv/Vol/Dec 1689/70 mln/913

09:15 am : S&P futures vs fair value: +6.60. Nasdaq futures vs fair value: +14.00. Downward revisions to second quarter GDP were less severe than feared, so premarket participants have responded by bidding stock futures higher. Though a positive tone is currently indicated ahead of the opening bell, the final Consumer Sentiment Survey for August from the University of Michigan (9:55 AM ET) has yet to be released and Fed Chairman Bernanke has yet to issue his economic outlook (10:00 AM ET). Uncertainty ahead of Bernanke's speech has left the dollar little changed, but Treasuries are down slightly in response to strength in stock futures. Corporate headlines have been light, but 3Par (PAR) is back in the news after it accepted a sweetened takeover offer from Dell (DELL), which raised its bid for the company to fend off Hewlett-Packard (HPQ).

09:00 am : S&P futures vs fair value: +6.00. Nasdaq futures vs fair value: +14.50. Europe's major bourses were stuck at the flat line until revised U.S. GDP data showed that second quarter growth wasn't as weak as had been expected. Now, Germany's DAX is up 0.5%. Merck KGAA and Fresenius are leaders, but their strength has been slightly offset by weakness in Commerzbank and Adidas. France's CAC is currently up 0.7%. Vivendi and Carrefour are leaders, but BNP Paribas has undermined their strength. Advancing issues outnumber decliners by about 3-to-2 in Britain's FTSE, which is now up 0.7%. Vodafone, Royal Dutch Shell (RDS.A), and HSBC (HBC) are in strong shape, but natural resource plays BP Plc (BP), BHP Billiton (BHP), and Anglo American drag along. Second quarter GDP for the United Kingdom showed 1.2% quarter-over-quarter growth after 1.1% quarterly growth during the first three months of the year.

In Asia, Japan's Nikkei climbed 1.0%. It was led by Fanuc LTD, TDK Corp, Tokyo Electron, and Honda Motor (HMC). Fast Retailing fell for the sixth straight session. It has shed almost 8% in that time and now trades at a new 10-month low. Despite its weakness, the broader market reacted positively to the yen's pullback, which came amid more comments about possible intervention to stem the yen's advances. Mainland China's Shanghai Composite advanced 0.3% with help from PetroChina (PTR) and other oil plays. Insurers were weak once again. Bank stocks like Industrial & Commercial Bank and Bank of China joined them in the red. Hong Kong's Hang Seng shed 0.1% for the third straight session. Though the past three losses have been modest in scope, the Hang Seng has fallen for six straight sessions. HSBC and insurers China Life were primary sources of weakness, which offset strength in China Mobile.

08:35 am : S&P futures vs fair value: +7.00. Nasdaq futures vs fair value: +16.30. Stock futures are now up sharply. Their climb came in response to news that second quarter GDP was revised downward from annualized growth 2.4% to growth of 1.6%, but the revision wasn't as sharp as many had expected. Specifically, the consensus among a sample of economists polled by Briefing.com had called for annualized quarter-over-quarter growth of 1.4%. Personal consumption for the second quarter was actually revised upward to reflect 2.0% growth when it had been expected to remain at 1.6%. The GDP Deflator was revised slightly higher to a 1.9% increase from a 1.8% increase.

08:05 am : S&P futures vs fair value: +2.80. Nasdaq futures vs fair value: +7.00. The prior session's slide marked the stock market's fifth loss in six sessions, but a more positive tone is indicated this morning by stock futures. Their strength comes ahead of revised GDP for the second quarter (8:30 AM ET) and the final Consumer Sentiment Survey for August from the University of Michigan (9:55 AM ET). Also of importance, Fed Chairman Bernanke is scheduled to make a statement at 10:00 AM ET. As for overseas action, Europe's major bourses are currently flat. The euro is also unchanged. Overnight trade in Asia was a bit mixed, but Japan's Nikkei climbed 1.0% as the country's yen eased back.

06:36 am : S&P futures vs fair value: +2.00. Nasdaq futures vs fair value: +6.50.

06:36 am : Nikkei...8991.06...+84.60...+1.00%. Hang Seng...20597.35...-14.70...-0.10%.

06:36 am : FTSE...5149.40...-6.40...-0.10%. DAX...5904.99...-7.60...-0.10%.

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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