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 Post subject: September 14th Tuesday 2010 Emini TF ($TF_F) points +14.40
PostPosted: Tue Sep 21, 2010 6:20 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=78&t=620

click on the below image to view normal size

Trade Performance for Today: +14.40 points or $1440 dollars in the ICE Russell 2000 Emini TF ($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.

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=121&t=761

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

Stocks End Mixed After Choppy Day
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By Julianne Pepitone, staff reporter
September 14, 2010: 5:03 PM ET

NEW YORK (CNNMoney.com) -- Stocks managed to pare some losses Tuesday on better-than-expected retail sales data, but indexes ended mixed as investors stepped back from a recent runup.

The Dow Jones industrial average (INDU) fell 18 points, or 0.2%, to end at 10,526.49. The Nasdaq (COMP) added 4 points, or 0.2%, to close at 2,289.77 and the S&P 500 (SPX) fell 1 point, or 0.1%, to end at 1,121.10.

Before Tuesday, the blue-chip Dow and the S&P had closed higher for eight out of nine straight sessions. After that kind of run, analysts say it's not uncommon for investors to take a breather.

Stocks opened weakly Tuesday and turned lower in the morning, but they had pared most of the morning's losses by the afternoon.

"The market has a bipolar effect to it right now -- it doesn't know what it's doing," said Joseph Saluzzi, co-head of equity trading at Themis Trading.

Stocks had rallied Monday after the release of new global banking rules, upbeat economic data from China and some acquisition activity helped boost investor sentiment.

Investors will continue to take their cues from the economy. While retail sales rose for the second consecutive month, the increase was still modest, keeping stock gains in check.

Meanwhile, with the dollar falling to a fresh 15-year low against the yen, some investors are turning to the safety of gold, sending the precious metal to a new intraday record high.

Economy: U.S. retail sales rose 0.4% in August, or a gain of 0.6% excluding auto sales. This slightly outpaced economists' expectations. Retail sales were expected to have risen 0.3% last month, according to consensus estimates from Briefing.com.

"Sales were slightly better than expected, but July was revised lower," Saluzzi said. "With that kind of back-and-forth, people don't know what to make of these figures."

After the opening bell, another government report showed business inventories rose 1% in July, following an upwardly revised 0.5% increase in June. The July figure is the highest increase in two years.

Additionally, a $42 billion bill to spur small business job creation cleared a key test in the Senate Tuesday. The Small Business Jobs Act includes $30 billion to spur lending and $12 billion in tax breaks.

Companies: Shares of electronics retailer Best Buy (BBY, Fortune 500) surged to end 6% higher Tuesday, after the company reported earnings that beat expectations and also raised its outlook. Best Buy earned 60 cents per share on revenue of $11.3 billion in its latest quarter.

Analysts polled by Thomson Reuters expected a profit of 44 cents a share and $11.5 billion in revenue. Best Buy also raised its earnings-per-share guidance for 2011 to $3.70 from $3.55.
0:00 /1:19Best Buy's mobile boost

Citigroup analysts said Tuesday that incoming BP (BP) Chief Executive Bob Dudley told them the company believes claims will be less than the $20 billion it has set aside for the "Independent Claim Fund."

But in separate news, the Justice department expects to sue BP for damages from the Deepwater Horizon oil spill, according to a filing made last night with the U.S. District Court in New Orleans.

BP shares ended 0.4% higher.

Cisco Systems Inc. said on Tuesday that it will begin to pay a dividend yielding between 1% and 2% in the current fiscal year, which ends in July 2011. Shares of Cisco (CSCO, Fortune 500) initially rose 2% on the announcement, but gains slowed and the stock ended 0.9% higher.

Toyota Motor Co. (TM) said it will put out six all-new hybrid vehicles worldwide by 2012. Shares closed down 0.7%.

World markets: European shares hovered around breakeven for most of the day but closed higher. France's CAC 40 and Germany's DAX ended 0.3% higher, while and Britain's FTSE 100 added 0.2%.

Asian markets ended mixed. Japan's benchmark Nikkei index fell 0.2% and the Hang Seng in Hong Kong rose 0.2%. The Shanghai Composite ended flat.

Currencies and commodities: The dollar edged up against the euro and the British pound, but slipped versus the yen.

Earlier in the session, the dollar hit a fresh 15-year low against the yen. News reports said the Japanese government may take steps to curb the currency's strength amid growing concerns about the pace of the recovery. But most traders still don't expect to see any intervention just yet.

Oil futures for October delivery fell 39 cents to settle at $76.80 a barrel. Gasoline prices are spiking across the Midwest, because of several pipeline closures by Ontario-based Enbridge Inc.

Gold for December delivery rose to $1,276.50 an ounce earlier in the session, a new intraday record. The previous record was about $1,264.80 an ounce on June 21. Tuesday's settlement price, $1,271.70 an ounce, was also a new record.

Bonds: The yield on the 10-year Treasury note fell to 2.67% from 2.76% late Monday.

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Yahoo! Finance

4:30 pm : Stocks attempted to stage another gain in the latest round of trade, but some late selling pressure left the major indices to finish in mixed fashion.

Cautious trade in the early going left stocks to start the session in the red. Participants were generally uninspired by Advance Retail Sales for August. The report indicated that retail sales in August increased 0.4%, which is slightly stronger than the 0.3% increase that had been expected, on average, among economists surveyed by Briefing.com. Excluding autos, August sales increased 0.6%, which is double the 0.3% increase that had been widely expected. Enthusiasm over August sales was partly tempered by downward revisions to sales for the prior month.

In other data, business inventories for July increased 1.0%, which is more than the 0.7% increase that had been widely expected. The greater-than-expected increase in business inventories ought to bode well for third quarter GDP.

Stocks overcame initial weakness to stage a steady climb, but the advance failed to take the S&P 500 through 1128, which marks the "flash crash" close and the top of the summer trading range. The major averages lacked direction after being rebuffed by the resistance line.

Shares of retailers still fared well, though. As a group they settled with a 1.2% gain. Best Buy (BBY 36.73, +2.08) was a primary leader in the group after it posted better-than-expected earnings and an increased profit outlook. The stock made its biggest bounce by percent in four months to book a two-month closing high.

Tech stocks were strong, too, although their gains were more than halved to 0.5%. Cisco (CSCO 21.46, +0.20) was a leader in the bunch after hinting at a potential dividend in 2011 during a presentation today.

JPMorgan (JPM 40.72, -0.40) resumed the discussion on its dividend during a conference as well by saying that it plans to restore its dividend payout ratio to a range of 30% to 40%. That did little to get bank stocks out of their funk, though some banks briefly benefited from news that embattled SunTrust Bank (STI 25.91, +0.60) believes it will post a third quarter profit, rather than log a loss as many have forecasted.

Trading volume on the NYSE failed to break 1 billion shares for the eighth straight session. Participation could pick up as monthly options come closer to their expiration at the end of the week.

Gold prices under the continuous contract set a new all-time high of $1274.60 per ounce, well above the previous all time high of $1266.50 per ounce. Silver prices continued their ascent as well. Specifically, the December contract for the precious metal hit $20.55 per ounce.

Meanwhile, the greenback dropped sharply against competing currencies. Specifically, the euro rallied 0.9% against the dollar and the yen climbed 0.7% and, in doing so, booked a fresh 15-year high against the dollar.

Though stocks settled with mixed results and volatility was muted, Treasuries caught a strong bid this session. In turn, the yield on the benchmark 10-year Note pulled back below 3.70% after it broke above its 50-day moving average in the prior session.

Advancing Sectors: Tech (+0.5%), Health Care (+0.4%), Telecom (+0.1%), Consumer Staples (+0.1%), Consumer Discretionary (+0.1%)
Declining Sectors: Financials (-1.0%), Industrials (-0.3%), Energy (-0.3%), Utilities (-0.2%), Materials (-0.1%)DJ30 -17.64 NASDAQ +4.06 NQ100 +0.4% R2K -0.5% SP400 +0.1% SP500 -0.80 NASDAQ Adv/Vol/Dec 1108/2.10 bln/1486 NYSE Adv/Vol/Dec 1369/922 mln/1581

3:30 pm : The real story today in the commodities sector was the new all-time highs set in the continuous gold contract, which traded to $1274.60, well above the previous all time high of $1266.50. Dec gold futures finished higher by 2.2% to $1271.70 per ounce while Dec silver settled up 1.6% to $20.43 per ounce. The precious metals rallied on the back of a substantially weaker dollar. Note that today's highs in silver futures represent a fresh ~2.5 year high.

It was a much quieter session for the energy commodities. Oct crude oil finished lower by 0.5% to $76.80 per barrel, after it was unable to maintain early gains. Oct natural gas closed up 0.5% to $3.96 per MMBtu. Natural gas futures did trade back above the $4 level for the first time in ~3 weeks, but was unable to close above that level. DJ30 +22.02 NASDAQ +10.87 SP500 +3.07 NASDAQ Adv/Vol/Dec 1270/1.7 bln/1319 NYSE Adv/Vol/Dec 1564/640.4 mln/1360

3:00 pm : Stocks had spent about an hour confined to a narrow trading range close to the unchanged mark, but they have since bounced higher to reclaim some of their gains.

Support for the recent upturn has been generally broad, such that eight of the 10 major sectors are in higher ground. Only industrials and financials have lagged; industrials are flat and financials are down 0.7%.

Though bank stocks continue to hamper the financial sector, SunTrust Bank (STI 25.96, +0.65) has suddenly attracted a rush of buying. According to recent comments from the firm's CFO, the bank will post a profit for the third quarter. That outlook comes in contrast to the current consensus, which calls for a loss of about $0.20 per share. DJ30 +18.31 NASDAQ +11.11 SP500 +2.66 NASDAQ Adv/Vol/Dec 1290/1.55 bln/1299 NYSE Adv/Vol/Dec 1564/587 mln/1358

2:30 pm : The stock market continues to plod along the neutral line. Tech stocks continue to provide broader market support as the sector sports a 0.7% gain, but financial stocks continue to counterbalance that gain with a 1.1% loss. The other major sectors remain mixed.

Record high gold prices have given way to strong gains among precious metals stocks like Newmont Mining (NEM 63.44, +3.02), which set a new 52-week high this session. Yamana Gold (AUY 10.60, +0.49) and Barrick Gold (ABX 45.64, +1.43) are also up sharply. DJ30 -3.56 NASDAQ +6.29 SP500 +0.19 NASDAQ Adv/Vol/Dec 1195/1.44 bln/1379 NYSE Adv/Vol/Dec 1429/540 mln/1474

2:00 pm : The broader market has managed to resist efforts to take it back into the red. In turn, it continues to trade along the neutral line.

There hasn't been much volatility this session. After the Volatility Index dropped during the prior session to its lowest level in months, it is flat this session.

Despite the absence of volatility and mixed action in the stock market, Treasuries continue to trade with strength. DJ30 -4.70 NASDAQ +6.74 SP500 -0.11 NASDAQ Adv/Vol/Dec 1170/1.33 bln/1378 NYSE Adv/Vol/Dec 1399/500 mln/1490

1:30 pm : Leadership from tech stocks and shares of retailers helped the broader market recover from an opening loss, but some moderate selling has resumed in early afternoon trade.

Given the heady gains of the past couple of weeks, some traders showed caution this morning. In turn, stocks slipped to a modest loss at the open.

Better-than-expected Advance Retail Sales for August initially did little for the broader market, but they did help shares of retailers. Retailers have also been helped by Best Buy (BBY 36.70, +2.06), which is on pace for one of its biggest single-session percentage gains in more than a year following better-than-expected earnings and an increased profit outlook.

Tech stocks have climbed to a 1.0% gain. The sector's strength comes amid another sharp swing by semiconductor stocks, which are up 2.0% after advancing more than 3% in the prior session. Semiconductor stocks are still down more than 7% year to date, though.

At an individual level, Cisco (CSCO 21.87, +0.61) has also shown leadership. During a presentation the company hinted at a potential dividend in 2011.

Strength among tech issues has helped keep the Nasdaq trading with a modest gain while the Dow and S&P 500 return to the neutral line.

Bank stocks have been a drag on the broader market, though JPMorgan (JPM 40.80, -0.32) discussed today plans to restore its dividend payout ratio to a range of 30% to 40% at a conference. Investors have been awaiting such a development, since it conveys strength at the company. Still, shares of JPM have been caught up in a bit of profit taking after bank stocks staged a big 3.0% bounce in the prior session. Their weakness this session has left the financial sector to trade with a 0.8% loss.

Trading volume remains moderate this session, but that could change as the week progresses and monthly options come closer to their expiration.

The dollar has run into some stiff selling this session. That has helped drive the euro to a 1.0% gain against the greenback. Meanwhile, the yen is up 0.8% so that it is just shy of the 15-year high that it set against the dollar earlier today.

Precious metals continue to find favor. Gold prices actually climbed more than 2% to set a new all-time high of $1276.50 per ounce, based on the December contract. Meanwhile, Silver prices set a new two-year high around $20.45 per ounce earlier this morning. DJ30 -0.69 NASDAQ +6.19 SP500 +0.27 NASDAQ Adv/Vol/Dec 1182/1.21 bln/1353 NYSE Adv/Vol/Dec 1410/458 mln/1470

1:05 pm : Stocks have handed back some of their gains in recent trade, but the overall tone remains moderately positive. Retailers (+1.6%) and tech stocks (+1.1%) continue to provide leadership to the broader market. DJ30 +21.79 NASDAQ +12.37 SP500 +2.85 NASDAQ Adv/Vol/Dec 1224/1.11 bln/1302 NYSE Adv/Vol/Dec 1538/430 mln/1335

12:30 pm : Stocks have steadily made their way to solid gains. They now stand at fresh session highs.

However, financial stocks continue to lag. The sector's 0.5% loss is largely underpinned by weakness among bank stocks. For measure, the KBW Bank Index is down 1.0% at the moment. That drop comes after it rallied 3.0% in the prior session. DJ30 +35.95 NASDAQ +15.84 SP500 +4.43 NASDAQ Adv/Vol/Dec 1354/1.00 bln/1158 NYSE Adv/Vol/Dec 1709/386 mln/1136

12:00 pm : Better-than-expected earnings and an increased earnings outlook have shares of Best Buy (BBY 37.16, +2.51) on pace for their biggest bounce by percent gained in more than a year. Such a strong bounce has shares of BBY at their best level in more than two months.

The price action has brought about a considerable increase in trading volume. As a result, shares of BBY are among the top 20 most actively traded stocks by share volume this session.

Strong volume and strong price action have made BBY a leader among shares of retailers, which are up 1.9%, collectively. DJ30 +39.12 NASDAQ +15.13 SP500 +4.86 NASDAQ Adv/Vol/Dec 1319/918 mln/1168 NYSE Adv/Vol/Dec 1695/348 mln/1143

11:30 am : The Russell 2000 Small-Cap Index has yet to join the headline indices in positive territory. Instead, it continues to grapple with a 0.1% loss.

Small-cap stocks are currently hampered by weakness in Arena Pharmaceuticals (ARNA 4.21, -2.64) and Volcano (VOLC 23.53, -2.12). Weakness in ARNA stems from the release of FDA documents outlining the failure of the firm to meet certain drug efficacy guidelines. Meanwhile, the drop in VOLC comes amid a mixed shelf offering from the firm.

At the other end of the spectrum, Zumiez (ZUMZ 20.09, +2.68) is up sharply following its increased earnings outlook, which now exceeds what Wall Street had estimated. DJ30 +29.89 NASDAQ +9.53 SP500 +3.18 NASDAQ Adv/Vol/Dec 1170/760 mln/1271 NYSE Adv/Vol/Dec 1575/300 mln/1230

11:00 am : Stocks have recovered from their morning slump to trade with a slight gain. The turnaround has been rather broad, but financials remain out of favor as they contend with a 0.8% loss.

Tech stocks have caught a strong bid. The sector, which is the largest by market weight, is now up 0.8%. Part of that is owed to continued strength in semiconductor stocks, which are up 1.9%. As a group, semiconductor stocks are up more than 5% in just two sessions, but they are still down more than 7% year to date. DJ30 +11.95 NASDAQ +5.55 SP500 +0.59 NASDAQ Adv/Vol/Dec 1045/610 mln/1346 NYSE Adv/Vol/Dec 1449/240 mln/1350

10:30 am : The dollar index is trading near session lows, but this isn't doing much for the energy markets. However, precious metals are trading higher as the broad averages are modestly lower.

In recent activity, gold prices put in new all-time highs of $1270.90 per ounce (using the continuous contract). December gold has been in positive territory all session and put in its own new all-time highs of $1272.40 per ounce in recent trade. Currently, Dec gold is trading 1.8% higher at $1269.20 per ounce.

December silver moved into positive territory overnight and has been there since. Silver put in new session highs of $ 20.45 per ounce earlier this morning and is currently just under that level at $20.40 per ounce, up 1.2%.

Energy market are only modestly higher this morning. October crude oil spent most of the morning in the red, but rallied into recent activity, pushing back into positive territory and new session highs of $77.54 per barrel. Crude is now 0.6% higher at $77.62 per barrel.

After pulling back sharply off of highs of $4.02 per MMBtu, October natural gas is just above the flat line at $3.96 per MMBtu.DJ30 -5.07 NASDAQ -1.70 SP500 -1.88 NASDAQ Adv/Vol/Dec 863/425.3 mln/1454 NYSE Adv/Vol/Dec 1098/177.9 mln/1645

10:00 am : The S&P 500 has bounced off of the 1115 line to retrace part of its morning slide. Still, the general tone of early trade is one of weakness.

Business inventory data for July was just released. The data shows an increase of 1.0%, which is more than the 0.7% increase that had been widely expected. The strong increase in July inventories wll provide a boost to third quarter GDP. Inventories for the prior month were revised upward to reflect a 0.5% increase.

Separately, the IBD/TIPP Economic Optimism Survey for September came in at 45.3, which is up from the 43.6 that was reported for the prior month.

Advancing Sectors: Tech (+0.1%)
Declining Sectors: Financials (-1.2%), Materials (-0.6%), Utilities (-0.5%), Industrials (-0.5%), Energy (-0.4%), Health Care (-0.3%), Consumer Discretionary (-0.3%), Consumer Staples (-0.1%), Telecom (-0.1%)DJ30 -32.47 NASDAQ -6.78 SP500 -4.52 NASDAQ Adv/Vol/Dec 673/265 mln/1563 NYSE Adv/Vol/Dec 825/111 mln/1877

09:45 am : The major equity averages are down modestly in the first few minutes of trade. The dip has been broad based, but financials are under the most pressure after outperforming in the prior session -- the sector is down 1.1% after a 2.3% advance on Monday.

Retailers are in solid shape, however. Better-than-expected Advance Retail Sales for August have helped the group climb to a collective gain of 0.4%. Despite their strength, the consumer discretionary sector is still down 0.4% as a 2.2% slide in education services stocks undermines the sector.

Amid the broader market's morning slide, gold prices have put in new all-time highs of $1267.50 per ounce. The yellow metal is currently up 1.6% to $1266.80 per ounce.

Meanwhile, Treasuries have benefited from an early bid, such that the yield on the benchmark 10-year Note is now back below 2.70%. DJ30 -41.86 NASDAQ -10.80 SP500 -5.94 NASDAQ Adv/Vol/Dec 524/153 mln/1642 NYSE Adv/Vol/Dec 683/74 mln/1959

09:15 am : S&P futures vs fair value: -3.30. Nasdaq futures vs fair value: -7.00. Better-than-expected Advance Retail Sales gave stock futures a boost, but enthusiasm over the report has since subsided, such that a slightly lower start to trade now looks in order. The tepid tone to premarket trade comes after stocks staged gains in seven of the past eight sessions, excluding a gain of less than 0.04% two weeks ago. The S&P 500 has gained almost 7% in that time and now stand above their 200-day moving average, near the early May "flash crash" close of 1128, which has also marked the top to the summer trading range.

09:05 am : S&P futures vs fair value: -3.20. Nasdaq futures vs fair value: -7.50. Europe's major bourses are mired near the neutral line. They have been seeking direction since the overnight release of news that eurozone industrial production for July was flat after a 0.2% decline in June. There is also news that eurozone economic sentiment, as measured by the ZEW Survey, fell to 4.4 in September from 15.8 in August. Germany's ZEW Survey for September dropped to -4.3 from 14.0 in August. Germany's DAX currently trades with a fractional loss. SAP AG and Allianz (AZ) are two of the bourse's primary leaders. E.On AG and Infineon Tech are two of its more notable laggards. France's CAC is also down fractionally. Total (TOT), Societe Generale, and BNP Paribas are strong performers, but GDF Suez and Sanofi-Aventis (SNY) are under pressure. Advancers and declining issues are evenly split in Britain's FTSE, where heavyweights HSBC (HBC) and Standard Chartered are higher, but not enough to keep the index out of the red. As for data, the Consumer Price Index for August increased 0.5%, which is a considerable turn from the 0.2% decline in July. Core prices for August increased 2.8% year-over-year.

In Asia, Japan's Nikkei slipped to a 0.2% loss as the country's Final Industrial Production Report for July showed a 0.2% decline after a 0.3% increase in June. A new 15-year high by the yen put added pressure on exporters. Toyota Motor (TM) and Fast Retailing were two of the heaviest drags among declining issues, which outnumbered advancers by 2-to-1. Softbank and Kyocera (KYO) were able to stage solid gains, though. Mainland China's Shanghai Composite closed flat as strength in Datang International and Air China was offset by weakness in Industrial & Commercial Bank and Bank of China. Hong Kong's Hang Seng advanced a modest 0.2%. Industrial & Commercial Bank was a primary leader there. HSBC added support, but Hang Lung Property and CNOOC dragged on trade.

08:35 am : S&P futures vs fair value: -0.50. Nasdaq futures vs fair value: -3.80. Stock futures have made a modest upturn with the release of the latest retail sales data. Advance Retail Sales for August increased 0.4%, which is slightly stronger than the 0.3% increase that had been expected, on average, among economists surveyed by Briefing.com. Sales for the prior month were revised slightly lower to reflect a 0.3% increase. Excluding autos, August sales increased 0.6%, which is double the 0.3% increase that had been widely expected. Sales less autos for July were revised lower to reflect a 0.1% increase. Though July sales have been revised lower, August sales have been helped by stronger hours and wages. In turn, the latest sales figures should be positive for third quarter GDP.

08:05 am : S&P futures vs fair value: -2.50. Nasdaq futures vs fair value: -6.50. The S&P 500 advanced 1% in the prior session for its seventh gain in eight sessions, but momentum has since slowed amid lackluster, overnight action in Asia and modest losses in Europe. Data from abroad has been generally unexciting. Meanwhile, a little bit of caution is on display ahead of Advance Retail Sales for August (8:30 AM ET). Business inventory figures for July come later this morning (10:00 AM ET). In currencies, the dollar is up modestly against the euro, but the yen has made its way to a fresh 15-year high. The yen currently trades with a 0.5% gain against the greenback at 83.31 yen per dollar.

06:56 am : S&P futures vs fair value: -2.00. Nasdaq futures vs fair value: -5.00.

06:56 am : Nikkei...9299.31...-22.50...-0.20%. Hang Seng...21696.04...+37.50...+0.20%.

06:56 am : FTSE...5564.01...-2.60...-0.10%. DAX...6258.15...-3.50...-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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